Re:The Debasement Puzzle: an Essay on Medieval Monetary Hist...
by cbkeller on Sunday December 16, 2018 @04:33PM
(#18695388)
> In our opinion, the facts we have presented suggest that existing models of commodity money, which assume well-informed agents, are not capable of successfully confronting the facts we present. A potentially fruitful line of research may be to weaken the full-information assumption
So, the solution to the puzzle is just that humans aren't actually all rational and well-informed?
So, the solution to the puzzle is just that humans aren't actually all rational and well-informed?