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Money and Reciprocity
Vogt, Bodo; Hens, Thorsten - 2004
Based on an experimental analysis of a simple monetary economy we argue that a monetary system is more stable than one would expect from individual rationality. We show that positive reciprocity stabilizes the monetary system, provided every participant considers the feedbacks of his choice to...
Persistent link: https://www.econbiz.de/10014096359
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Money and Reciprocity
Hens, Thorsten; Vogt, Bodo - Institut für Volkswirtschaftslehre, …
Based on an experimental analysis of a simple monetary economy we argue that a monetary system is more stable than one would expect from individual rationality. We show that positive reciprocity stabilizes the monetary system, provided every participant considers the feedbacks of his choice to...
Persistent link: https://www.econbiz.de/10005627772
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On the micro-foundations of money: The Capitol Hill Baby-Sitting Co-op
Hens, Thorsten; Schenk-Hoppe, Klaus Reiner; Vogt, Bodo - 2003
model is compared with actual behavior in a laboratory experiment. The experiment gives support to the theoretical approach. …
Persistent link: https://www.econbiz.de/10010295388
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On the Micro-Foundations of Money : The Capitol Hill Baby-Sitting Co-Op
Hens, Thorsten; Schenk-Hoppé, Klaus Reiner; Vogt, Bodo - 2011
model is compared with actual behavior in a laboratory experiment. The experiment gives support to the theoretical approach …
Persistent link: https://www.econbiz.de/10014029653
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Simulating a Multiproduct Barter Exchange Economy
Levy, Daniel; Bergen, Mark - EconWPA - 2005
We describe a multiproduct barter trading experiment in which students exchange real goods in an open market based on … their own personal preference. The experiment is designed for simulating a pure exchange market in order to demonstrate the …
Persistent link: https://www.econbiz.de/10005125577
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Beans as a Medium of Exchange
Fried, Harold; Levy, Daniel - EconWPA - 2005
This note describes an experiment, which is an extension of the experiment proposed by Levy and Bergen (1993). The … experiment is designed to simulate an environment where something that is very similar to fiat money (i.e., is homogenous …
Persistent link: https://www.econbiz.de/10005119382
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On the Micro-foundations of Money : The Capitol Hill Baby-Sitting Co-op
Hens, Thorsten; Schenk-Hoppe, Klaus Reiner; Vogt, Bodo - Institut für Schweizerisches Bankwesen <Zürich>; … - 2003
model is compared with actual be-havior in a laboratory experiment. The experiment gives support to thetheoretical approach. …
Persistent link: https://www.econbiz.de/10005858589
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On the micro-foundations of money : the Capitol Hill Baby-Sitting Co-op
Hens, Thorsten; Schenk-Hoppe, Klaus Reiner; Vogt, Bodo - HWWA Institut für Wirtschaftsforschung - 2003
model is compared with actual behavior in a laboratory experiment. The experiment gives support to the theoretical approach. …
Persistent link: https://www.econbiz.de/10010957432
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On the Micro-foundations of Money: The Capitol Hill Baby-Sitting Co-op.
Hens, Thorsten; Schenk-Hoppé, Klaus Reiner; Vogt, Bodo - Økonomisk Institut, Københavns Universitet - 2003
model is compared with actual behavior in a laboratory experiment. The experiment gives support to the theoretical approach. …
Persistent link: https://www.econbiz.de/10005818475
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The Great Capitol Hill Baby Sitting Co-Op : Anecdote or Evidence for the Optimum Quantity of Money?
Hens, Thorsten - 2011
laboratory experiment. The theoretical results are strongly supported by this experiment …
Persistent link: https://www.econbiz.de/10012714583