Competition of Commodities for the Status of Money in an Agent-based Model

Robert G\k{e}barowski, Stanis{\l}aw Dro\.zd\.z, Andrzej Z. G\'orski and Pawe{\l} O\'swi\k{e}cimka
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Robert G\k{e}barowski: Wydzia{\l} Fizyki, Matematyki i Informatyki, Politechnika Krakowska im. Tadeusza Ko\'sciuszki, Krak\'ow, Poland
Stanis{\l}aw Dro\.zd\.z: Wydzia{\l} Fizyki, Matematyki i Informatyki, Politechnika Krakowska im. Tadeusza Ko\'sciuszki, Krak\'ow, Poland
Andrzej Z. G\'orski: Instytut Fizyki J\k{a}drowej PAN, Krak\'ow, Poland
Pawe{\l} O\'swi\k{e}cimka: Instytut Fizyki J\k{a}drowej PAN, Krak\'ow, Poland

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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.

Date: 2014-12
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Published in Acta Physica Polonica A vol. 127, No. 3-A, pp A-51 - A-54 (2015)

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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:1412.2124

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