英文标题：
《Coexistence of several currencies in presence of increasing returns to
adoption》
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作者：
Alex Lamarche-Perrin (Phys-ENS), Andr\\\'e Orl\\\'ean (PSE), Pablo Jensen
(Phys-ENS)
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最新提交年份：
2018
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英文摘要：
We present a simplistic model of the competition between different currencies. Each individual is free to choose the currency that minimizes his transaction costs, which arise whenever his exchanging relations have chosen a different currency. We show that competition between currencies does not necessarily converge to the emergence of a single currency. For large systems, we prove that two distinct communities using different currencies in the initial state will remain forever in this fractionalized state.
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中文摘要：
我们提出了一个不同货币之间竞争的简化模型。每个人都可以自由选择使其交易成本最小化的货币，只要其交换关系选择了不同的货币，就会产生交易成本。我们表明，货币之间的竞争不一定会收敛到单一货币的出现。对于大型系统，我们证明了在初始状态下使用不同货币的两个不同社区将永远保持这种分馏状态。
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分类信息：

一级分类：Quantitative Finance 数量金融学
二级分类：General Finance 一般财务
分类描述：Development of general quantitative methodologies with applications in finance
通用定量方法的发展及其在金融中的应用
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一级分类：Physics 物理学
二级分类：Physics and Society 物理学与社会
分类描述：Structure, dynamics and collective behavior of societies and groups (human or otherwise). Quantitative analysis of social networks and other complex networks. Physics and engineering of infrastructure and systems of broad societal impact (e.g., energy grids, transportation networks).
社会和团体（人类或其他）的结构、动态和集体行为。社会网络和其他复杂网络的定量分析。具有广泛社会影响的基础设施和系统（如能源网、运输网络）的物理和工程。
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