Jacob Viner

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I study dynamic games where players may be unaware of some fundamentals of the game itself, such as actions or players, and such unawareness may be lifted by other players' actions during the play. Based on Li (2006a, 2006b), I propose a framework to deal with such games using standard tools of game theory. I construct examples to show that unawareness is(More)
This paper, prepared for the forthcoming Elgar Companion to the Chicago School of Economics (Ross Emmett and Malcolm Rutherford eds.) describes monetary economics as it existed in four eras at the University of Chicago. It begins with analysis, based on the Real Bills Doctrine, developed by J. Laurence Laughlin, the first chairman of the Chicago Economics(More)
Preliminary draft; please do not quote without permission. Abstract Changes in trade policy affect a nation's economic welfare through terms-of-trade and volume-of-trade effects. A move to global free trade would imply higher world economic welfare equal to the sum of all nations' volume-of-trade, or efficiency, effects. Since the sum of the terms-of-trade(More)
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