Related Experiment Video
Updated: Jul 10, 2026

Measuring Delay Discounting in Humans Using an Adjusting Amount Task
Published on: January 9, 2016
Dynamics of money
P Bak1, S F Nørrelykke, M Shubik
1Niels Bohr Institute, Blegdamsvej 17, 2100 Copenhagen, Denmark.
Abstract:
We present a dynamical many-body theory of money in which the value of money is a time dependent "strategic variable" that is chosen by the individual agents. The value of money in equilibrium is not fixed by the equations, and thus represents a continuous symmetry. The dynamics breaks this continuous symmetry by fixating the value of money at a level which depends on initial conditions. The fluctuations around the equilibrium, for instance in the presence of noise, are governed by the "Goldstone modes" associated with the broken symmetry. The idea is illustrated by a simple network model of monopolistic vendors and buyers.
Related Concept Videos
Dynamic Equilibrium
Dynamics Of Circular Motion: Applications
Energy Diagrams - I
Take the example of a skater on a parabolic ramp. The potential energy at different points along the ramp will be proportional to the height of the ramp, which varies quadratically with the horizontal position on the ramp. As the skater moves down the ramp from the highest position,...
Laminar and Turbulent Flow
Conservation of Linear Momentum for a System of Particles
The impulsive force at play during this interaction is of extremely short duration, rendering its impulse negligible. When...
Steady Flow of a Fluid Stream
During this process, the momentum of the fluid within the control volume remains constant over the time interval dt. By applying the...

