Kahn, Charles M.; Roberds, William - Society for Economic Dynamics - SED - 2006
results suggest that technological advances will not eliminate this tradeoff. Section 2 of the paper makes use of the search … arrangements will generally dominate. Section 3 considers two offshoots of the basic model. In the first variation, money is … introduced as a sort of card that is not tied to anyone’s identity. Under suitable conditions, the simultaneous use of money …