Basic endogenous-money economy: An agent-based approach

BLECIC, IVAN;
2014-01-01

Abstract

We present an agent-based model of a simple endogenous-money economy. The model simulates agents representing individual persons who can work, consume, invent new products and related production technologies, apply for a loan from the bank and start up a business. Through the interaction of persons with the firms, we simulate the production of goods, consumption and labour market. This setting allows us to explore how an endogenous-money economy may build up from scratch, as an emergent property of actions and interactions among heterogeneous agents, once the money is being injected into a non-monetary self-production (or barter) economy. We provide and discuss the results of several computational experiments under three scenarios: (1) with just one firm, (2) with a limited number of firms and abundant workforce, (3) and with unlimited number of firms. © 2014 Springer-Verlag.
2014
Inglese
Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Roman Wyrzykowski, Jack Dongarra, Konrad Karczewski, Jerzy Waśniewski
Roman Wyrzykowski, Jack Dongarra, Konrad Karczewski, Jerzy Waśniewski
8385
761
770
10
Springer Verlag
Berlino
978-3-642-55194-9
978-3-642-55195-6
978-3-642-55194-9
978-3-642-55195-6
WOS:000347415600072
2-s2.0-84901263413
Esperti anonimi
scientifica
Agent-based computational economics; Endogenous-money economy; Heterogeneous agents; Computer Science (all); Theoretical Computer Science
no
info:eu-repo/semantics/bookPart
2.1 Contributo in volume (Capitolo o Saggio)
Blecic, Ivan; Cecchini, Arnaldo; Trunfio, Giuseppe A.
2 Contributo in Volume::2.1 Contributo in volume (Capitolo o Saggio)
3
268
none
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