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Barley, Gold, or FiatToward a Pure Theory of Money$
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Thomas Quint and Martin Shubik

Print publication date: 2014

Print ISBN-13: 9780300188158

Published to Yale Scholarship Online: May 2014

DOI: 10.12987/yale/9780300188158.001.0001

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PRINTED FROM YALE SCHOLARSHIP ONLINE (www.yale.universitypressscholarship.com). (c) Copyright Yale University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in YSO for personal use.date: 24 September 2021

The Properties of Markets

The Properties of Markets

Chapter:
(p.9) Chapter 2 The Properties of Markets
Source:
Barley, Gold, or Fiat
Author(s):

Thomas Quint

Martin Shubik

Publisher:
Yale University Press
DOI:10.12987/yale/9780300188158.003.0002

In this chapter several general aspects of economic markets are discussed, to which our approach allows detailed study. This includes distinguishing among types of money (perishables vs storable consumables vs durables vs fiat) and types of trading structure (sell-all vs buy-sell vs double auction), breaking down the “trading day” into time intervals where different activities take place, and pointing out that the well-known Fisher equation can vary according to the particular type of market one is studying.

Keywords:   buy-sell market, markets, physical goods, sell-all market, trading day

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