kaal:claim:3782205-029

Renegotiating contracts every time the currency's value changes is expensive and continually and randomly punishes at least one of the contracting parties.

Source quote, verbatim

Renegotiating contracts whenever the currency changes is expensive, and continually and randomly punishes at least one of the parties.

From

Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021), Chapter 9. Eight institutions, p. 4
https://ssrn.com/abstract=3782205 · source PDF

Cite as

Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205

Holds when

contracts denominated in a fluctuating currency

Classification

mechanismsupport: arguedeconomics

Verify

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Attestation record: colloquium/attestations/9e406853fb464a1a...json
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