6 Comments

Interesting piece. What paper makes this point about the emergence of money?

Expand full comment

Start with the Alchian piece I linked to on money. It's not exactly this model built up but I think you can see the connection.

Expand full comment

Not a paper, but Mises wrote about it in his books (https://en.wikipedia.org/wiki/Regression_theorem).

Expand full comment

Great post as always, Brian. I have a question ... Have you considered providing a non-technical summary of your papers? It could be useful !!

Expand full comment

Thanks Bruno! I've tried to write about them a bit on the newsletter. I'm not sure if anyone would be interested in a longer form. I talk a bit about the Guthmann paper in these two posts https://pricetheory.substack.com/p/common-chicanery-about-competition https://pricetheory.substack.com/p/what-ive-been-writing

I devoted a whole piece to another paper I have https://pricetheory.substack.com/p/failures-of-the-law-of-one-price

Expand full comment

That's exactly what I was looking for. Thanks, Brian. I will read the posts later. Many thanks!!

Expand full comment