The rise of money : an evolutionary analysis of the origins of money

Simple item page
buir.advisorHasker, Kevin
dc.contributor.authorTahmilci, Ahmet
dc.date.accessioned2016-07-01T11:08:16Z
dc.date.available2016-07-01T11:08:16Z
dc.date.issued2006
dc.departmentDepartment of Economicsen_US
dc.descriptionCataloged from PDF version of article.en_US
dc.description.abstractThis paper shows that if there are more goods than money in all trading periods then nonconvertible fiat money is evolutionarily successful in complex economies. This result is developed in Kiyotaki and Wright (1993) search model of money, using a learning algorithm developed by Marimon et. al (1990). When we include an evolutionary model similar to Kandori, Mailath, and Rob (1993) we find that fiat money is frequently evolutionarily successful. To be precise let x be the probability someone finds someone who has a good they want –small x represents a complex economy– and let µ be the fraction of people holding money in any trading period. As long as µ < (1-2x)/(2-2x) fiat money will be evolutionarily successful.en_US
dc.description.degreeM.A.en_US
dc.description.statementofresponsibilityTahmilci, Ahmeten_US
dc.format.extentvii, 46 leavesen_US
dc.identifier.itemidBILKUTUPB100179
dc.identifier.urihttp://hdl.handle.net/11693/29892
dc.language.isoEnglishen_US
dc.publisherBilkent Universityen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectFiat Moneyen_US
dc.subjectLearningen_US
dc.subjectStochastic Evolutionen_US
dc.subject.lccHG353 .T34 2006en_US
dc.subject.lcshPaper money.en_US
dc.titleThe rise of money : an evolutionary analysis of the origins of moneyen_US
dc.typeThesisen_US

Files

Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
0003185.pdf
Size:
333.63 KB
Format:
Adobe Portable Document Format
Description:
Full printable version
Download

Collections

Dept. of Economics - Master's degree