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Social Innovation and Monetary Innovation. Developing Social Finance tools for social enterprises.
This modified Language_Change NetLogo model portrays money exchange as language exchange. It explores how the properties of money users (agents) and the structure of their social networks can affect the course of money usage change. In this model, there are two monetary variants in competition within the social network – one variant generated by “money 0” (or legal tender) and the other generated by “money 1” (community currency). Money users interact with each other based on whom they are connected to in the network. At each iteration, each individual make exchanges by using either money “0” or money “1” to the neighbors in the network. Individuals then imitate their neighbors and change their money based on what money they use.Experiments through the use of Behavior Space have shown that under certain properties community currency can spread all over the network crowding out the dominant type of money. This model is used as part of a Phd research on monetary innovation.