This chapter asks why these assets have not already been invented. The answer seems to lie in the lack of incentives for financial innovation, the fact that many of the benefits of issue are externalities, and the likely existence not only of a novelty premium that...
CITATION STYLE
Williamson, J. (2017). The Disadvantages of Financial Innovation. In Growth-Linked Securities (pp. 117–121). Springer International Publishing. https://doi.org/10.1007/978-3-319-68333-1_11
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