Modelling emergence of money

Andrzej Z. Górski 1Stanisław Drożdż 1,2Jarosław Kwapień 1Paweł Oświęcimka 1

1. Polish Academy of Sciences, Institute of Nuclear Physics (IFJ PAN), Radzikowskiego 152, Kraków 31-342, Poland
2. University of Rzeszów, Institute of Physics, Department of Complex Systems, Rejtana 16, Rzeszów 35-310, Poland

Abstract

An Agent-Based Computational model of production, consumption and exchange of goods is studied. The model exhibits the feature of the emergence of money. Its dependence on two independent parameters and different phases of the model behavior are analyzed. Also, it is shown that in the case of emergence of money no single good plays this rule ad infinitum - after sufficient time period this rule is overtaken by another good.

 

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Presentation: Oral at 4 Ogólnopolskie Sympozjum "Fizyka w Ekonomii i Naukach Społecznych", by Andrzej Z. Górski
See On-line Journal of 4 Ogólnopolskie Sympozjum "Fizyka w Ekonomii i Naukach Społecznych"

Submitted: 2009-03-02 15:23
Revised:   2009-06-07 00:48