Modelling Emergence of Money

• Authors: A. Górski , S. Drożdż , P. Oświęcimka
• Languages of publication: 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

89.65.Gh; 89.75.Fb; 05.45.Tp

Discipline

• 05.45.Tp: Time series analysis
• 89.65.Gh: Economics; econophysics, financial markets, business and management(for economic issues regarding production and use of renewable energy, see 88.05.Lg)
• 89.75.Fb: Structures and organization in complex systems

• Publisher: Institute of Physics, Polish Academy of Sciences
• Journal: Acta Physica Polonica A
• Year: 2010
• Volume: 117
• Issue: 4
• Pages: 676-680

Dates

published

2010-04

Contributors

author

A. Górski

• H. Niewodniczański Institute of Nuclear Physics, Polish Academy of Sciences, E. Radzikowskiego 152, 31-342 Kraków, Poland

author

S. Drożdż

• 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

author

P. Oświęcimka

• H. Niewodniczański Institute of Nuclear Physics, Polish Academy of Sciences, E. Radzikowskiego 152, 31-342 Kraków, Poland

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Identifiers

DOI

10.12693/APhysPolA.117.676