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@inproceedings{871389, author = {Staněk, Rostislav}, address = {Brno}, booktitle = {New Economic Challenges 2010}, edition = {1.}, keywords = {Money; Double Coincidence of Wants; Search models; Infinite games}, language = {eng}, location = {Brno}, isbn = {978-80-210-5111-9}, pages = {265-272}, publisher = {Masarykova univerzita}, title = {Double Coincidence of Wants and the Essentiality of Money}, url = {http://is.muni.cz/do/1456/sborniky/10407573/NewEconomicChallenges2010.pdf}, year = {2010} }
TY - JOUR ID - 871389 AU - Staněk, Rostislav PY - 2010 TI - Double Coincidence of Wants and the Essentiality of Money PB - Masarykova univerzita CY - Brno SN - 9788021051119 KW - Money KW - Double Coincidence of Wants KW - Search models KW - Infinite games UR - http://is.muni.cz/do/1456/sborniky/10407573/NewEconomicChallenges2010.pdf N2 - This paper is focused on the microeconomic foundation of the theory of money. I argue that the absence of double coincidence of wants per se is not able to explain the existence of money. The argument has two parts. First, I argue that existing models without double coincidence of wants include also other frictions. Second, I show that double coincidence of wants is neither sufficient nor necessary condition for the essentiality of money. Game theory is applied for this purpose. Finally the paper provides indirect support for the claim that money is a record-keeping device that solves the problem of imperfect monitoring. ER -
STANĚK, Rostislav. Double Coincidence of Wants and the Essentiality of Money. In \textit{New Economic Challenges 2010}. 1. vyd. Brno: Masarykova univerzita, 2010, s.~265-272, 427 s. ISBN~978-80-210-5111-9.
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