... the performance of algorithms. We show that our theoretical and empirical comparisons continue to hold. Finally, based on these analyses, we propose a practical version of the Unpaired algorithm. Kidney exchange Medium of exchange Dynamic matching ERC 10.13039/100010663 682417 ANR 10.13039/100020806...

... to fruition. Such ‘vehicle currencies’ as the US dollar play an important role in international trade as they serve as widely accepted units of account for denominating trade and financial transactions and as mediums of exchange for making payments to settle those transactions ( Goldberg and Tille, 2008...

...This chapter is a math-free theoretical framework of money. It begins with the reasons we need money as a medium of exchange (instead of using barter or credit) and as a medium of unilateral payment. Then it discusses how the need for money can be fulfilled, and how laws can help a certain money...

...Legal tender laws made the refusal to accept the designated legal tender as a medium of exchange illegal and fixed the legal tender’s exchange-value in specie. Legal tender laws did not support the value of the legal tender. Traders in the marketplace circumvented the fixed-exchange-value to specie...

... in repaying their debts, trade by credit may not be incentive feasible. If ever trade were to occur, agents would need a kind of tangible medium of exchange. The chapter demonstrates that money is essential in an environment where agents cannot commit and there is no record-keeping technology. The role...

... and a lack of record-keeping. The presents study focuses on an environment void of money, but with a fixed supply of assets. It shows that just like fiat money, real assets can be used as a medium of exchange in decentralized trades. Next, the chapter explores how inflation affects the pricing of assets...

..., financial, and economic contexts in which cash equivalents are treated “as if” they were checkable deposits, even though cash equivalents do not generally function as a medium of exchange. Within economics, there is a notable cognitive dissonance in this area: one sees a conceptual tendency to group cash...

... Edward the Confessor Normans and Normandy Aethelred Edward the Elder constitutional project money as debt public Domesday Book William I origins of money convergence story stakeholder theory public finance unit of account medium of exchange mode of payment fiscal value cash premium Money...

... normative standards cryptocurrency medium of exchange It may be a dubious and even dangerous sort of money, but even the worst sort must be included in the theory. Money it must be, in order to be bad money. G. F. Knapp, The State Theory of Money, 1924 How many people does it take...

.... Trading externalities are introduced in a non‐monetary economy and the possibility of multiple equilibria is discussed. A search model of money is then presented, which formalizes the use of money as a medium of exchange. Finally, a model of the labour market characterized by a process of search...

...This chapter examines how the value of money and its ability to perform the role of a medium of exchange is affected by its physical properties. It investigates the implications of money being indivisible, and illustrates other important inefficiencies associated with indivisible and scarce money...

...This chapter expounds on the notion of the liquidity of an asset and its ability to function as a medium of exchange. Here, trading frictions are not associated with the purchase and consumption of goods. Instead, these are introduced into an asset market, or an over-the-counter market...

...This chapter explains the nature of money as a unit of account, medium of exchange, and as a store of value, and addresses the problem of introducing money using rigorous dynamic models. It begins by showing that there are good economic reasons for the adoption of monetary exchange for both...

... as a universal medium of exchange and means of payment. The chapter also looks into the three alternative means of payment used by the Romans: credit money; bullion; and the Tesserae frumentariae. The sources analysed in this chapter prove that the Roman jurists were able to grasp the function...

... ‘chartalist’ approaches. The metallist approach focuses on money as a medium of exchange, which in the past derived its value through a link to precious metal. In the chartalist approach, the state, or any other authority, imposes a liability in the form of a generalized, social or legal unit of account...