We rarely seem to discuss the most basic kind of market failure: insufficient liquidity.
Just not enough buyers and/or sellers to make a market.
Any good writings exploring this, preferably essays over books?
Conversation
(No snark implied by use of site, can’t figure out how to get direct link on phone) lmgtfy.com/?q=%E2%80%9CPe
1
Refined version
Quote Tweet
Didn’t phrase this quite right. Don’t mean to pose a tautology as a failure. More like a ‘tragedy of liquidity’ or something.
Demand emerging too late or too rarely for example but being acute and impossible to meet when it does. twitter.com/vgr/status/971
Replying to
Sorry yeah, you’ve got the right idea, it’s just been a huge topic in financial markets over past decade.
1
1

