The present work offers a review on two divergent schools of thought regarding the subject of money and highlights why … understanding it is important to grasp the workings and nature of the concept of money. We adopt a spontaneous order perspective on … social institutions, considering money as one. Such framework allows for the construction of axioms from which we formulate …

not created due to a hold-up problem. Monetary expansion increases buyers' money holdings, and then, dealers are willing …

goods trade model which also captures trade through time in the form of inside money as used in macro literature on one good … way. -- Inside money ; general equilibrium ; Nash equilibrium ; numerical analysis ; tariff rate …

methods, and study how each subject makes decisions both on behalf of own money and on behalf of another individual’s money …. We find a weak tendency of lower risk-taking with others' money compared to own money. However, subjects believe that … other participants take more risk with other people's money than with their own. At the same time, subjects on average think …