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view/download model file: CurrencyGame.nlogo
The applet requires Java 1.4.1 or higher. It will not run on Windows 95 or Mac OS 8 or 9. Mac users must have OS X 10.2.6 or higher and use a browser that supports Java 1.4. (Safari works, IE does not. Mac OS X comes with Safari. Open Safari and set it as your default web browser under Safari/Preferences/General.) On other operating systems, you may obtain the latest Java plugin from Sun's Java site.
This is a sample of the currency game for Gary Goertz's Political Science 682 course.
The user selects the number of players to have in the world. Each will choose between either gold or silver randomly as their currency. As the game progresses, with probability 1-Epsilon, each will convert to the dominate currency. Then, with probability Epsilon, they will randomly choose a currency.
Select the number of players and click "Setup" then slide the value bar for Epsilon to see how it impacts the results.
The larger the N, the higher Epsilon value is needed to make a switch between dominate currencies likely.
It might be interesting to add some geographical characteristics. This would give a "Silver" and "Gold" lands where people would be inclined to use the proper currency in the right land.
Created by Mike Ryckman.