20.05.2013 - 21:46 [ Paul Krugman ]

The Theory of Interstellar Trade

Because interstellar trade will take so long, any decision to launch a cargo will necessarily be a very long-term investment project, and would hardly be conceivable unless there are very extensive futures markets. I will assume, then, that future futures markets are, well, futuristic in their development.

In fact, I will assume that investors, human or otherwise, are able to make perfect forecasts of prices over indefinite periods.