In decentralized trade individuals self-insure against consumption risk via costly diversification of skills. Although money acts as consumption insurance, it may lead to a moral hazard problem. If the problem is severe, monetizing trade can lower welfare relative to barter.
Camera, G., R. Reed and C. Waller (2003). Can monetizing trade lower welfare? An example. Economics Letters 81(2), 33-40. doi: 10.1016/S0165-1765(03)00168-X
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