Resource title

On the micro-foundations of money : the Capitol Hill Baby-Sitting Co-op

Resource image

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Resource description

This paper contributes to the micro-foundation of money in centralized markets with idiosyncratic uncertainty. It shows existence of stationary monetary equilibria and ensures that there is an optimum quantity of money. The rational solution of our model is compared with actual behavior in a laboratory experiment. The experiment gives support to the theoretical approach.

Resource author

Thorsten Hens, Klaus Reiner Schenk-Hoppe, Bodo Vogt

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/19227

Resource license

Adapt according to the presented license agreement and reference the original author.