Time and Risk
Some Economics of Now and Later
No matter what it is that people want, it sometimes seems that there is inevitably a market for it. Got an old cell phone you want to unload but don’t want to haggle? Done.1 Interested in a paternity test but don’t want to go to a doctor to get one? Get it from the paternity testing truck.2 Got a rambunctious cat but are too frail or otherwise unwilling to corral it yourself? There is someone in New York3 who will, for a fee of course, do it for you. So perhaps we should not be surprised that there are extensive markets that allow people to engage in trade across time. Such markets, which are among ...
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