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Erscheinungsjahr: 
1993
Quellenangabe: 
[Journal:] Economic Inquiry [ISSN:] 1465-7295 [Volume:] 31 [Issue:] 2 [Publisher:] Wiley [Place:] Hoboken [Year:] 1993 [Pages:] 314-321
Verlag: 
Wiley, Hoboken
Zusammenfassung: 
We describe a multiproduct barter trading experiment in which students exchange real goods in an open market based on their own personal preference. The experiment is designed for simulating a pure exchange market in order to demonstrate the role of money and its functions in real economies by showing the limitations and inefficiencies of the traditional barter economy. In addition, the simulation is very effective in highlighting some of the key features that an object that serves as money needs to possess in order to function as an efficient medium of exchange, unit of account, and store of value.
Schlagwörter: 
Money
Demand for Money
Barter Exchange
Monetary Experiment
Functions of Money
Medium of Exchange
Store of Value
Unit of Account
Features of Money
Information Cost
Identification Cost
JEL: 
A22
E40
DOI der veröffentlichten Version: 
Dokumentart: 
Article
Dokumentversion: 
Accepted Manuscript (Postprint)
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