Haegler, Urs - In: Economica 64 (1997) 256, pp. 547-65
This paper studies the role of money as a medium of exchange when barter trade is restricted not only by the double-coincidence-of-wants requirement but also by private information about the quality of commodities. For this purpose, the model of N. Kiyotaki and R. Wright (1989) is extended to...
