Rate-of-Return Dominance and Efficiency in an Experimental Economy

Gabriele Camera, Charles Noussair and Steven Tucker

Purdue University Economics Working Papers from Purdue University, Department of Economics

Abstract: One of the main challenges for monetary economics is to explain the use of assets that are dominated in rate-of-return as media of exchange. In this paper, we use experimental methods to study how a fiat money might come to be used in transactions when an identically marketable, dividend-bearing asset, a consol, is also available.

Keywords: EXPERIMENTS; ECONOMICS; MONEY (search for similar items in EconPapers)
JEL-codes: C90 E40 F30 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2000-08
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Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Rate-of-return dominance and efficiency in an experimental economy (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:pur:prukra:1135

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