Quick Search:

is currently disabled due to reindexing of the ZORA database. Please use Advanced Search.
uzh logo
Browse by:

Zurich Open Repository and ArchiveĀ 

Permanent URL to this publication: http://dx.doi.org/10.5167/uzh-52036

Hens, Thorsten; Vogt, Bodo (2003). Money and Reciprocity. Working paper series / Institute for Empirical Research in Economics No. 138, University of Zurich.



Based on an experimental analysis of a simple monetary economy we argue that a monetarynsystem is more stable than one would expect from individual rationality. We show thatnpositive reciprocity stabilizes the monetary system, provided every participant considers thenfeedbacks of his choice to the stationary equilibrium. If however the participants do not playnstationary strategies and some participants notoriously refuse to accept money then due tonnegative reciprocity their behavior will eventually induce a break down of the monetarynsystem.

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Economics
Working Paper Series > Institute for Empirical Research in Economics (former)
DDC:330 Economics
Date:November 2003
Deposited On:29 Nov 2011 21:25
Last Modified:09 Jul 2012 05:02
Series Name:Working paper series / Institute for Empirical Research in Economics
Official URL:http://www.econ.uzh.ch/wp.html

Users (please log in): suggest update or correction for this item

Repository Staff Only: item control page