Managing Financial Risks while Performing International Commercial Transactions. Intertemporal Lessons from Athens in Classical Times
نویسندگان
چکیده
In this paper, we mainly focus on two institutional aspects that are related to financial risk, is, profiteering and the use of non-fraudulent coins when performing transactions. We argue these prerequisites were important for success commercially oriented economy Athenian state in comparison with its allies East Mediterranean during classical period. particular, briefly explain structure economy, then agoranomoi dokimastai, main institutions (i) measures against (ii) ensuring purity currency commercial Then, following a game theoretical approach, provide fictional example as how functioned practice. Our findings confirm crucial reducing risk international transactions, since they provided symmetrical information quality currencies circulating economy. case state, further convey unadulterated comprise intertemporal axioms, sense their importance is not merely phenomenon modern times, but rather, contrary, one dates back much earlier times.
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ژورنال
عنوان ژورنال: Journal of risk and financial management
سال: 2021
ISSN: ['1911-8074', '1911-8066']
DOI: https://doi.org/10.3390/jrfm14110509