Invisible Hand Processes and the Theory of Money
dc.contributor.author | Steiner, Hillel | |
dc.date.accessioned | 2021-12-10T13:37:52Z | |
dc.date.available | 2021-12-10T13:37:52Z | |
dc.date.issued | 2013 | |
dc.description.abstract | This paper explores, and rejects, the plausibility--advanced by a number of economists and recently re-affirmed by Robert Nozick--of employing an `invisible hand explanation' to account for the existence of money as a medium of exchange. It argues that money is not necessarily more efficient than barter as a means of effecting a multiplicity of desired exchanges, and that its use is not a dominant strategy under standard theoretical conditions of individual rational choice. | de_DE |
dc.identifier.uri | https://jlupub.ub.uni-giessen.de//handle/jlupub/482 | |
dc.identifier.uri | http://dx.doi.org/10.22029/jlupub-411 | |
dc.language.iso | en | de_DE |
dc.subject | barter | de_DE |
dc.subject | double coincidence of wants | de_DE |
dc.subject | asset value | de_DE |
dc.subject | Prisoner’s Dilemma | de_DE |
dc.subject.ddc | ddc:100 | de_DE |
dc.subject.ddc | ddc:330 | de_DE |
dc.title | Invisible Hand Processes and the Theory of Money | de_DE |
dc.type | article | de_DE |
dcterms.isPartOf | 2536124-7 | |
local.affiliation | Externe Einrichtungen | de_DE |
local.source.epage | 52 | de_DE |
local.source.journaltitle | Rationality, markets, and morals: RMM | de_DE |
local.source.spage | 44 | de_DE |
local.source.volume | 4 | de_DE |