Despite the fast growing popularity of in-game purchases of virtual currency (to obtain game enhancing virtual items) in digital games, there is very limited formal research that studies this new business model and its impacts on players’ gameplay behavior and social welfare. This paper builds upon the classic labor-leisure model to capture players’ dual experience of enjoying leisure and earni...

One simple method of recognizing paper currencies has been introduced. It considers different dimensions, areas, Euler numbers, correlations between images as features. It uses Weighted Euclidean Distance for classification. The method uses the case of Saudi Arabian paper currency as a model currency under consideration. It uses fifth series of currency, issued by Saudi Arabian Monetary Agency ...

The Lévy Libor or market model which was introduced in Eberlein and Özkan (2005) is extended to a multi-currency setting. As an application we derive closed form pricing formulas for cross-currency derivatives. Foreign caps and floors and cross-currency swaps are studied in detail. Numerically efficient pricing algorithms based on bilateral Laplace transforms are derived. A calibration example ...

We explicitly consider strategic interaction between governments to study currency competition and its effects on the circulation of currencies and welfare in a two-country twocurrency search theoretic model. Each government finances public goods by means of seigniorage. Compared with a regime with two local currencies, a regime with one international currency allows the issuer of the internati...

this paper surveys the persian monetary crises due to economic sanctions and speculative attacks that leads to high inflation. economic sanctions are associated with various forms of trade barriers and restriction on financial transactions. among the most influential sanctions on iran's oil export and central bank sanctions are noted that their aims to reduce iran's oil revenues and devaluation...

BACKGROUND Transmission of human pathogens can be occurred via inert objects. Paper currency is a further common contact surface whereby pathogens can be transferred within a population although the significance remains unknown. Hence, the aim of the present study was to investigate microbial populations associated with Iranian paper currency. METHODS This study was carried out by getting 108...

Re-denomination was not only a zero dropping and new coin minting operation but also a significant milestone in Turkey. Before the currency reform, multiple zeros had posed several difficulties in expressing monetary values, transactions, bookkeeping and statistical records, data processing software, payment systems, price labels etc. So, removing six zeros from national currency became a ...

This paper develops a firm-dynamics model with heterogenous firms and endogenous currency debt composition to jointly study financing and investment decisions in developing economies. In our model, foreign currency borrowing arises from a trade-off between aggregate deviations from the risk-free uncovered interest rate parity and firms’ growth potential. Crucially, there is crosssectional heter...