Dynamics of money

Physical Review E - Statistical Physics, Plasmas, Fluids, and Related Interdisciplinary Topics

Volumn 60, Issue 3, 1999, Pages 2528-2532

  Bak, Per ^a,b   Nørrelykke, Simon F ^a   Shubik, Martin ^b  

^a UNIVERSITY OF COPENHAGEN   (Denmark)

^b YALE UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

ARTICLE;

EID: 0000259512     PISSN: 1063651X     EISSN: None     Source Type: Journal    
DOI: 10.1103/PhysRevE.60.2528     Document Type: Article

References (9)

1. G. Debreu, Theory of Value (Wiley, New York, 1959).
2. N. Kiyotaki and R. Wright, J. Economic Theory 53, 215 (1991).
3. A. Trejos and R. Wright, J. Political Economy 103, 118 (1995).
4. A detailed economics-oriented discussion of the search theoretic and other approaches to the theory of money is given in our companion paper [P. Bak, S. F. Nørrelykke, and M. Shubik (in preparation)] where the concept of market is made operational.
5. W. S. Jevons, Money and the Mechanism of Exchange (MacMillan, London, 1875).
6. P. C. Hohenberg, Phys. Rev. 158, 383 (1967).
7. N. D. Mermin and H. Wagner, Phys. Rev. Lett. 17, 1133 (1966).
8. This is mathematically equivalent to differentiating Eq. (8) with respect to (Formula presented) [with the expressions in Eqs. (9), (10), and (11) substituted for (Formula presented) (Formula presented) and (Formula presented)] and demanding it be zero.
9. The solution to Eq. (17) for a delta-function initial condition is (Formula presented) where (Formula presented) is the system size and (Formula presented)