The Superiority of Monetary over Barter Exchange : Experimental Results and Policy Implications

William Stanley Jevons suggested that monetary exchange is socially superior to barter exchange because agents' optimization is simplified by the use of money. We experimentally study how subjects perform under monetary and barter exchange and find that a majority of subjects achieve a higher utility level in the monetized economy. Our laboratory findings indicate that, at least, government has a role in promoting a common unit of account

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Year of publication:	[2009]
Authors:	Rötheli, Tobias F.
Publisher:	[2009]: [S.l.] : SSRN

Extent:	1 Online-Ressource (24 p)
Type of publication:	Book / Working Paper
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 9, 2009 erstellt
Other identifiers:	10.2139/ssrn.1157426 [DOI]
Classification:	E40 - Money and Interest Rates. General ; C91 - Laboratory, Individual Behavior ; D60 - Welfare Economics. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012720508