Network Effects and Money

ISBN-13: 9783639081589 / Angielski / Miękka / 2008 / 136 str.

Mikael Stenkula

Opis

The common basis for this work is that it deals with money as a network good, i.e. that the value of a specific currency or payment technique is dependent on the number of users. This book analyzes monetary choice in the light of this network aspect from different perspectives.The so-called network effects, which may result from a network good, can work as reinforcement or as an obstacle to spontaneously or politically controlled changes in the monetary regime. As a result, problems associated with the adoption of a new currency or new (electronic) payment techniques may arise.The book includes both theoretical discussions as well as a discussion about Carl Menger s monetary theory and its connection to the network effects of money. The last chapter of the book analyzes a specific case, namely the Euro cash changeover process that took place in 2002.This work should be useful for people with a general interest in choice of monetary standards, but also for people who specifically want to read about the Euro Cash changeover process or Carl Menger s monetary theory.

O autorze

Mikael Stenkula, PhD: Studied Economics at Lund University,
Sweden. Research Fellow at the Research Institute of Industrial
Economics (IFN), Stockholm, Sweden.