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2010 | 117 | 4 | 676-680
Article title

Modelling Emergence of Money

Content
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EN
Abstracts
EN
The agent-based computational economic (ACE) model with one free parameter (Thresh) proposed by Yasutomi is analyzed in details. We have found that for a narrow range of the parameter, in the money emergence phase, the money lifetime is finite and the "money switching" effect can be observed for long enough time evolution. Long periods of stability are followed by shorter periods with much shorter money lifetimes. Distributions of the money switching points have been found to have non-Cantor distribution on the time axis, i.e. the Rényi exponents determined by the box-counting algorithm equal 1.0 with high accuracy.
Keywords
EN
Contributors
author
  • H. Niewodniczański Institute of Nuclear Physics, Polish Academy of Sciences, E. Radzikowskiego 152, 31-342 Kraków, Poland
author
  • H. Niewodniczański Institute of Nuclear Physics, Polish Academy of Sciences, E. Radzikowskiego 152, 31-342 Kraków, Poland
  • Faculty of Math. and Natural Sci., University of Rzeszów, 35-310 Rzeszów, Poland
  • H. Niewodniczański Institute of Nuclear Physics, Polish Academy of Sciences, E. Radzikowskiego 152, 31-342 Kraków, Poland
References
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  • 7. A. Yasutomi, Physica D 82, 180 (1995)
  • 8. A. Yasutomi, Chaos 13, 1148 (2003)
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  • 11. J.D. Farmer, D. Foley, Nature 460, 685 (2009)
Document Type
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.bwnjournal-article-appv117n462kz
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