The international diffusion of an innovation: The spread of decimal currency
Adrian E. Tschoegl
This paper argues that decimalization of currency diffused as a consequence all three forms isomorphism: normative, coercive, and mimetic. Furthermore, it is ambiguous to whether the normative isomorphism was well founded. The patterns denominations show variety by country number factors, including cultural ones. These tend follow powers-of-two (binary) principle for smaller purer decimal larger denominations, reflecting their utility cash transactions store-of-value functions, respectively.
Journal of Socio-economics