In Which Context is the Option Clause Desirable?

Mathieu Bédard
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Mathieu Bédard: GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique

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Abstract: The option clause is a contractual device from free banking experiences meant to prevent banknote redemption duels. It has been used within the Diamond and Dybvig (J Pol Econ 91: 401–419, 1983) framew

Keywords: Bank runs; Financial stability; Free banking; G21; G33; Insolvency; N23; Option clause (search for similar items in EconPapers)
Date: 2016-12
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Published in Journal of Business Ethics, 2016, 139 (2), pp.287--297. ⟨10.1007/s10551-015-2611-7⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01446221

DOI: 10.1007/s10551-015-2611-7

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