13 research outputs found

    The economics of debt clearing mechanisms

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    We examine the evolution of decentralized clearinghouse mechanisms from the 13th to the 18th century; in particular, we explore the clearing of non- or limitedtradable debts like bills of exchange. We construct a theoretical model of these clearinghouse mechanisms, similar to the models in the theoretical matching literature, and show that specific decentralized multilateral clearing algorithms known as rescontre, skontrieren or virement des parties used by merchants were efficient in specific historical contexts. We can explain both the evolutionary self-organizing emergence of late medieval and early modern fairs, and its robustness during the 17th and 18th century

    Handbuch des deutschen Handels-, See- und Wechselrechts /

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    Vol. 3 published 1885; v. 4, 1884Includes bibliographical referencesMode of access: Internet

    Das deutsche Handelsrecht : systematisch Dargestellt /

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    Mode of access: Internet

    Das Unternehmen als Gegenstand und Anknüpfungspunkt rechtlicher Regelungen in Deutschland 1860–1920

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