A Case of Arbitrage in a Worldwide Trade - Roman Coins in India

Information is the basis for every kind of transaction. This is true in contemporary world, but it also applies to the ancient one, where information was normally available at a slower pace and to a limited extent. Nevertheless, ancient societies were sometimes able to carry on commerce on very long distance, between places that share no language, law, rulers, or currency. This is the case of the international trade between the Roman Empire and India. Using the Roman coins as a proxy, it is possible to determine that complex economic phenomena (like arbitrage) were taking place between places a world apart.