Competition of Commodities for the Status of Money in an Agent-based Model
Statistical Finance
2015-06-09 v1
Abstract
In this model study of the commodity market, we present some evidence of competition of commodities for the status of money in the regime of parameters, where emergence of money is possible. The competition reveals itself as a rivalry of a few (typically two) dominant commodities, which take the status of money in turn.
Cite
@article{arxiv.1412.2124,
title = {Competition of Commodities for the Status of Money in an Agent-based Model},
author = {Robert Gębarowski and Stanisław Drożdż and Andrzej Z. Górski and Paweł Oświęcimka},
journal= {arXiv preprint arXiv:1412.2124},
year = {2015}
}
Comments
10 pages, 4 figures