This theory paper addresses the difficult issue of understanding alternative equilibria in a dynamic decentralized asset trading markets. So for example an experiment studying the evolution of money (an asset) in a little world where agents produce and exchange because of different skills (think comparative advantage?) or preferences.
For example think of the paper Kiyotaki, N. and R. Wright (1989), "On Money as a Medium of Exchange," Journal of Political Economy 97.
By:
Maurizio Iacopetta
OFCE (Sciences-Po) and Skema Business School
For example think of the paper Kiyotaki, N. and R. Wright (1989), "On Money as a Medium of Exchange," Journal of Political Economy 97.
By:
Maurizio Iacopetta
OFCE (Sciences-Po) and Skema Business School