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, which would be the better money?

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Year of publication:	2002-02
Authors:	Dubey, Pradeep ; Geanakoplos, John ; Shubik, Martin
Institutions:	Cowles Foundation for Research in Economics, Yale University

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Extent:	application/pdf
Series:	Cowles Foundation Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	CFP 1084. Published in Economic Theory (2003), 21(4): 767-782 The price is None Number 1031R 15 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005196038