The first note treats the transition from a barter economy to a monetary one from the viewpoint of the theory of clubs. The second note demonstrates the possibility that in general equilibrium the use of a less costly means of exchange man not be beneficial to every agent. The third note shows that, if agents face different transactions costs, price discrimination is profitable even when preferences are identical.
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Paper provided by Queen's University, Department of Economics in its series Working Papers with number
502.
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