Barter in Russia can be explained by firms liquidity constraint: it is strongly correlated with financial tightness. However a micro-economic analysis reveals that the rationale behind this liquidity constraint is different according to the firm situation. For firms in a good economic situation, but faced with adverse selection problem and having no access to bank credit, barter acts as a subst...

The recent surge in popularity of e-commerce prompted a lot of activity in the area of electronic payments. Solutions have been developed for cash, credit card and check-based electronic transactions. Much less attention has been paid to non-monetary commerce such as barter. In this paper we discuss the notion of \secure group barter" or multi-party fair exchange. We develop a classiication of ...

The financial press and accounting regulators (e.g., the SEC and FASB) have expressed concern about pressures on Internet firms to report high levels of revenue. This study verifies the association between market capitalization and revenue, and examines economic factors that potentially influence Internet company managers’ decisions to adopt allegedly aggressive revenue recognition policies. Sp...

This paper presents a family of models that involve a pair of actors that aim at bartering the goods from two privately owned pools of heterogeneous goods. The barter can occur only once or can be a repeated process with possibilities of retaliation and can involve either a single good or a basket of goods from each actor. We are indeed going to examine both the basic symmetric model (one-to-on...

We examine a search money model in which there is a symmetric coincidence of wants in all barter matches. However, when bargaining outcomes are asymmetric across matches, the barter economy is inefficient. Then a robust monetary equilibrium exists provided that money holders enjoy adequate bargaining terms. Fiat money may be welfare improving. In contrast to the literature, it is the asymmetry ...

Economic Incentives and International Trade by Dalia Marin and Monika Schnitzer This paper studies the importance of incentives as a determinant of international trade flows. We argue that barter, countertrade and foreign direct investment can be seen as efficient institutions that mitigate contractual hazards which arise in technology trade, marketing and imperfect capital markets. Paying an i...