Is gold an efficient store of value?

Gold and tobacco have both been used as commodity money. One difference between the two is that gold yields utility, on account of its beauty, without diminishing its quantity. Tobacco yields utility when it is consumed. If this were the only difference, Copyright Springer-Verlag Berlin Heidelberg 2003

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Year of publication:	2003
Authors:	Dubey, Pradeep ; Geanakoplos, John ; Shubik, Martin
Published in:	Economic Theory. - Springer. - Vol. 21.2003, 4, p. 767-782
Publisher:	Springer
Subject:	Gold \| Tobacco \| Store of value \| Liquidity

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Extent:	text/html
Type of publication:	Article
Classification:	D4 - Market Structure and Pricing ; D5 - General Equilibrium and Disequilibrium ; D61 - Allocative Efficiency; Cost-Benefit Analysis ; E40 - Money and Interest Rates. General ; E41 - Demand for Money
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005147351