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In Which Context is the Option Clause Desirable?

Author

Listed:
  • 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)

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

Suggested Citation

  • Mathieu Bédard, 2016. "In Which Context is the Option Clause Desirable?," Post-Print hal-01446221, HAL.
    • Handle: RePEc:hal:journl:hal-01446221
    DOI: 10.1007/s10551-015-2611-7
    as

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    More about this item

    Keywords

    Bank runs; Financial stability; Free banking; G21; G33; Insolvency; N23; Option clause;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913

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