Is gold an efficient store of value?

Pradeep Dubey, John Geanakoplos and Martin Shubik

Economic Theory, 2003, vol. 21, issue 4, 767-782

Abstract: Gold and tobacco have both been used as commodity money. One difference between the two is that gold yields utility, on account of its beauty, without diminishing its quantity. Tobacco yields utility when it is consumed. If this were the only difference, Copyright Springer-Verlag Berlin Heidelberg 2003

Keywords: Keywords and Phrases: Gold; Tobacco; Store of value; Liquidity.; JEL Classification Numbers: D4; D5; D61; E40; E41. (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (8)

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Working Paper: Is Gold an Efficient Store of Value? (2002)
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DOI: 10.1007/s00199-002-0266-y

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