Money and cooperation in small communities
So Kubota ()
No 2118, Working Papers from Waseda University, Faculty of Political Science and Economics
Abstract:
In this note, I investigate the circulation of money in small communities. I build a two-player repeated gift-giving game and then show that players can sustain coopera- tion by using money. An ecient outcome is obtained when players are able to hold multiple units of currency.
Keywords: primitive money; repeated game. (search for similar items in EconPapers)
JEL-codes: C73 E42 N10 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2021-09
New Economics Papers: this item is included in nep-exp, nep-gth, nep-his, nep-mac, nep-mon and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:wap:wpaper:2118
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