I’m afraid all the bets like this will just recover interest rates, which give the exchange rate between resources on one date and resources on another date. The interest rate combines both preferences to have stuff in some dates over others, and beliefs about whether people will actually have to make good on their promises to pay in the future. The problem is that it is very hard to disentangle these two effects.
I’m afraid all the bets like this will just recover interest rates, which give the exchange rate between resources on one date and resources on another date. The interest rate combines both preferences to have stuff in some dates over others, and beliefs about whether people will actually have to make good on their promises to pay in the future. The problem is that it is very hard to disentangle these two effects.