Finance Innovation Merton 
Harvard Business Review
SEPTEMBER 29, 2014
Walker’s innovation was to bind travelers to pay the prices they bid if the airlines and hoteliers on Priceline accepted the offers. Economists and finance. That way, travelers took their offers much more seriously than if they simply could “name their price” without any purchase obligation.
Harvard Business Review
NOVEMBER 29, 2010
In slightly more formal terms, Id suggest that they were able to take on, at least in tiny part, five of Robert Merton and Zvi Bodies six standard functions of a financial system: settling payments, providing information, setting incentives, pooling resources, and transferring resources.
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