In this paper we provide a mathematical derivation that links traditional time-value-of-money concepts to Metcalfe value, and use Bitcoin, Facebook as numerical examples of the proof. There is compelling evidence that suggests that the growth and price of bitcoin and other cryptocurrencies are...

Unmolested prices have been shown to exhibit an expected, natural distribution characterized by Benford's law. Deviations from this distribution indicate an anomaly, and typically that anomaly is caused by some type of fraud. With bitcoin, we conducted an analysis for the entire period of daily...

Just as network effects can dramatically increase value through positive feedback, value can be lost as networks shrink due to competition or incompatibility. In the instance of cryptocurrency as a network and with Metcalfe's Law as the methodology, we illustrate by numerical example that...

This paper demonstrates that bitcoin's medium- to long-term price follows Metcalfe's law. Bitcoin is modeled as a token digital currency, a medium of exchange with no intrinsic value that is transacted within a defined electronic network. Per Metcalfe's law, the value of a network is a function...

We show that dynamic investment portfolio asset allocation based on secular market cycles outperforms a buy-and-hold portfolio of equities and outperforms a buy-and-hold portfolio of gold over long periods. An objective definition of secular market enables identification of an appropriate...

Trade composition and the global political economy -- Conceptualizing and operationalizing intra-industry trade -- Cooperating to compete : intra-industry trade and the formation of preferential trade agreements -- Trade composition and the World Trade Organization : the effect of intra-industry...

A growing literature examines the link between preferential trade agreements (PTAs) and peace among member states. However, despite the potentially competitive nature of these agreements, there has been little research examining whether and how PTAs could induce hostilities between members and...

Intra-Industry Trade calls for us to rethink what trade most often looks like and how it shapes global institutions, fostering peace among states. Cameron G. Thies and Timothy M. Peterson argue that our understanding of trade has not kept pace with its changing nature in the 21st century;...

Most studies of the link between dyadic trade and militarized conflict examine the extent of trade interaction. However, interaction measures do not account for the impact of cutting off trade (i.e., exit costs). In this article, I highlight the link between exit costs, the cost of conflict, and...

Although scholars have suggested that sanctions could have an international symbolic effect in which they inform third parties of sender preferences and resolve, studies have not examined whether and when sanctions against one state lead other states to change similar proscribed behavior. In...