Architecture as a Medium of Exchange
نویسندگان
چکیده
منابع مشابه
On Money as a Medium of Exchange
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Environmental psychology categorizes “physical environment” as “typically neutral,” only coming into selfconscious awareness when individuals form stable and enduring representations of it [1]. We see this manifest in the real world when the steeple of a church is able to communicate that it is a place for reflection and religious gathering; the bricks and ivy of Harvard Yard signifies years of...
متن کاملThe Emergence of Commodity Money as a Medium of Exchange
This paper examines the endogenous emergence of a commodity money in a trading post economy. The commodity money is defined as the common medium of exchange and is determined by the equilibrium pattern of exchange. The long run equilibria are analyzed using an evolutionary style model. Agents follow a simple adaptive process, generating dynamics that are reduced to a Markov process. Examples ar...
متن کاملFiat Money as a Medium of Exchange: Experimental Evidence
This paper reports results from an experimental implementation of Kiyotaki and Wright's (1989) search{theoretic model of money as a medium of exchange. The focus of the experiment is on the role played by at money in this environment. Fiat money is an object that serves as a store of value, but which has no intrinsic value to any individual. The question we address is whether such at objects ma...
متن کاملPrivate Money as a Competing Medium of Exchange
By introducing costly centralized exchange into a traditional search theoretic decentralized market, where money can mediate trade, we show private money can arise endogenously because it is pro table for the centralized intermediary to satisfy the demand for money that will naturally arise. Trading money to another agent for a good, rather than trading good for good through the centralized int...
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ژورنال
عنوان ژورنال: Oz
سال: 1993
ISSN: 2378-5853
DOI: 10.4148/2378-5853.1248