RAJEEV, Meenakshi - In: Annales d'Economie et de Statistique (1999) 53, pp. 197-211
This paper studies the efficiency properties with respect to transactions cost, of a trading post set-up vis-à-vis a marketless trading arrangement under the well-known frame-work of Ostroy and Starr [1974]. It is revealed from this exercise that the social institute of money works better when...