In prison, cigarettes are sometimes used among inmates as a form of payment. How is it possible

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In prison, cigarettes are sometimes used among inmates as a form of payment. How is it possible for cigarettes to solve the "double coincidence of wants" problem, even if a prisoner does not smoke?

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The Economics of Money Banking and Financial Markets

ISBN: 978-0133836790

11th edition

Authors: Frederic S. Mishkin

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Question Posted: Nov 03, 2017 03:56 AM

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In prison, cigarettes are sometimes used among inmates as a form of payment. How is it possible

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Even if he or she were a nonsmoker since the prisoner knows that others in the p...View the full answer

The Economics of Money Banking and Financial Markets

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