It is if free market ideologues are saying “let the market handle it” and avoiding non market proposals while stuff is getting damaged or destroyed. Ie by the time people demand action (in both senses of the word) it’s too late
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it’s becoming a more well understood failure as people level up in economics & markets because of crypto. Incentives all the way down.
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Uhhh... you want to tell him
@matt_levine? -
(No snark implied by use of site, can’t figure out how to get direct link on phone) http://lmgtfy.com/?q=%E2%80%9CPeople+Are+worried+about+bond+market+liquidity%E2%80%9D+matt+Levine …
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@ I would suggest Misbehaving by
@R_Thaler. He talks about EMH and quashes them! I hope you both meet :)Thanks. Twitter will use this to make your timeline better. UndoUndo
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How are you differentiating this from insufficient demand? Made me think of pink sheet and BB markets - stuff that doesn’t qualify for proper listing bc most of it is junk.
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Trying to get the kids phrasing right. Climate action would be an example. If we wait till demand develops it will be too late for a lot of damage prevention. Impossible lag problem.https://twitter.com/vgr/status/971943568074883072?s=20 …
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only tangentially related, but interesting, with a wink at VIX: http://www.ito33.com/sites/default/files/articles/0609_ayache.pdf …
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Insufficient liquidity has other nuanced faces as well. Discovery of inventory/sellers for buyers, timing of buyer inquiry and availability. Sadly, marketplaces fail for many more fundamental reasons.
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