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Basic Endogenous-Money Economy: An Agent-Based Approach

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Parallel Processing and Applied Mathematics (PPAM 2013)

Part of the book series: Lecture Notes in Computer Science ((LNTCS,volume 8385))

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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.

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Authors and Affiliations

  1. Department of Architecture, Planning and Design, University of Sassari, Sassari, Italy

    Ivan Blecic, Arnaldo Cecchini & Giuseppe A. Trunfio

Authors
  1. Ivan Blecic
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  2. Arnaldo Cecchini
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  3. Giuseppe A. Trunfio
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Corresponding author

Correspondence to Ivan Blecic .

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Editors and Affiliations

  1. Institute of Computer and Information Science, Czestochowa University of Technology, Czestochowa, Poland

    Roman Wyrzykowski

  2. University of Tennessee, Department of Computer Science, Knoxville, Tennessee, USA

    Jack Dongarra

  3. Institute of Computer and Information Science, Czestochowa University of Technology, Czestochowa, Poland

    Konrad Karczewski

  4. Technical University of Denmark Informatics and Mathematical Modelling, Kongens Lyngby, Denmark

    Jerzy Waśniewski

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Blecic, I., Cecchini, A., Trunfio, G.A. (2014). Basic Endogenous-Money Economy: An Agent-Based Approach. In: Wyrzykowski, R., Dongarra, J., Karczewski, K., Waśniewski, J. (eds) Parallel Processing and Applied Mathematics. PPAM 2013. Lecture Notes in Computer Science(), vol 8385. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-55195-6_72

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  • DOI: https://doi.org/10.1007/978-3-642-55195-6_72

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  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-55194-9

  • Online ISBN: 978-3-642-55195-6

  • eBook Packages: Computer ScienceComputer Science (R0)

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