IDEAS home Printed from https://ideas.repec.org/a/spr/eaiere/v17y2020i2d10.1007_s40844-020-00181-2.html
   My bibliography  Save this article

Stimulate currency circulation in the currency community by creating a customized community

Author

Listed:
  • Maen Alaraj

    (Senshu University)

  • Makoto Nishibe

    (Senshu University)

Abstract

Community currencies (CCs) are considered one of the tools used to energize and stimulate the economy and foster sustainable development. This sustainability was formed by iterating non-commercial (e.g., volunteer activities) and subsequent commercial transactions through using the earned CCs from non-commercial transactions in commercial transactions. While many studies have tried to assess the actual impact of these currencies, stagnation in CCs still has not been solved effectively. This paper aims to reduce stagnation by proposing a concept of “customized community” to accelerate the circulation of CCs by creating a market that fits the needs of members within the community. This market is created by giving a “preference” to people who would like to join the community by giving a bonus premium amount to add to the initial purchase of CC with money. The selection of the “preferred” people is based on personal factors (e.g. gender, product category etc.) of members who were frequently and actively involved in the CC transactions. Our main findings suggest that this concept can reduce the stagnation in CCs significantly from 15% to 3%. This customization has been examined by creating a random network model of 100 people and using computer simulation to analyze transactions.

Suggested Citation

  • Maen Alaraj & Makoto Nishibe, 2020. "Stimulate currency circulation in the currency community by creating a customized community," Evolutionary and Institutional Economics Review, Springer, vol. 17(2), pages 399-412, July.
    • Handle: RePEc:spr:eaiere:v:17:y:2020:i:2:d:10.1007_s40844-020-00181-2
    DOI: 10.1007/s40844-020-00181-2
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s40844-020-00181-2
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s40844-020-00181-2?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Yannis Bakos & Florencia Marotta-Wurgler & David R. Trossen, 2009. "Does Anyone Read the Fine Print? Testing a Law and Economics Approach to Standard Form Contracts," Working Papers 09-04, NET Institute, revised Aug 2009.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Makoto Nishibe, 2020. "Special issue “New Possibility of Cryptocurrencies and Digital-Community Currencies”," Evolutionary and Institutional Economics Review, Springer, vol. 17(2), pages 313-325, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zev J. Eigen, 2012. "When and Why Individuals Obey Contracts: Experimental Evidence of Consent, Compliance, Promise, and Performance," The Journal of Legal Studies, University of Chicago Press, vol. 41(1), pages 67-93.
    2. Mitja Kovač & Ann-Sophie Vandenberghe, 2015. "Regulation of Automatic Renewal Clauses: A Behavioural Law and Economics Approach," Journal of Consumer Policy, Springer, vol. 38(3), pages 287-313, September.
    3. Michael Faure & Hanneke Luth, 2011. "Behavioural Economics in Unfair Contract Terms," Journal of Consumer Policy, Springer, vol. 34(3), pages 337-358, September.
    4. Procaccia Yuval & Harel Alon, 2012. "On the Optimal Regulation of Unread Contracts," Review of Law & Economics, De Gruyter, vol. 8(1), pages 59-89, April.
    5. Thomas J. Maronick, 2014. "Do Consumers Read Terms of Service Agreements When Installing Software? - A Two-Study Empirical Analysis," International Journal of Business and Social Research, LAR Center Press, vol. 4(6), pages 137-145, June.
    6. N. Helberger & M. Loos & Lucie Guibault & Chantal Mak & Lodewijk Pessers, 2013. "Digital Content Contracts for Consumers," Journal of Consumer Policy, Springer, vol. 36(1), pages 37-57, March.
    7. Florencia Marotta-Wurgler, 2012. "Does Contract Disclosure Matter?," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 168(1), pages 94-119, March.
    8. Thomas J. Maronick, 2014. "Do Consumers Read Terms of Service Agreements When Installing Software? - A Two-Study Empirical Analysis," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 4(6), pages 137-145, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:eaiere:v:17:y:2020:i:2:d:10.1007_s40844-020-00181-2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.