Computational modeling of the role of informal control in the interregional systems of unofficial value transfer

Unofficial systems of interregional value transfer maintain stable interactions between their participants without relying on the legal norms enforcing financial obligations taken by the agents. Instead, they rest on the norms of informal control permeating the domain of financial exchanges. These norms are rooted in the social embeddedness of informal financial transactions, which implies social liabilities incurred by participants who are obliged to act in accordance with collectively established rules and conventions. Below we present the main findings from the computational modeling of such systems.