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1 juin 2017
- handle: 10670/1.arb4jo
- halshs: halshs-01531274
info:eu-repo/semantics/OpenAccess
Mots-clés
money dynamics increasing returnsSujets proches
Specie Monetary question Money, Primitive Currency Standard of valueCiter ce document
Alex Lamarche-Perrin et al., « A simplistic model of the emergence of money », Archive Ouverte d'INRAE, ID : 10670/1.arb4jo
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Résumé
We present a simplistic model of the competition between dierent currencies. Each individual is free to choose the currency that minimizes his transaction costs, which arise whenever his exchanging relations have chosen a dierent currency. We show that competition between currencies does not necessarily converge to the emergence of a single currency. For large systems, we prove that two distinct communities using dier-ent currencies in the initial state will remain forever in this fractionalized state.