Title: The Emergence of Money
Speaker: Siddhartha Sahi, Department of Mathematics, Rutgers University
Date: Tuesday, September 16, 2014 11:00am - 12:00pm
Location: DIMACS Center, CoRE Bldg, Room 431, Rutgers University, Busch Campus, Piscataway, NJ
Abstract:
We consider a class of commodity exchange mechanisms based on directed graphs. We show how complexity considerations lead naturally to the emergence of the star shaped graph, in which all exchanges involve a central commodity money.
This is joint work with Martin Shubik (Yale) and Pradeep Dubey (Stony Brook)
http://cowles.econ.yale.edu/P/cd/d19a/d1945.pdf