To reduce household air pollution, improve health outcomes, save nonrenewable biomass, and support local economic development, developing countries are seeking to increase the use of liquefied petroleum gas (LPG) as a clean cooking solution. In the absence of targeted subsidies, LPG will not be...

Provides a brief assessment of how natural resource scarcity and global climate change may alter the risk of violent conflict in the future. Resource scarcity to meet basic needs such as food and land and water can be worsened by governmental ineffectiveness, and vulnerability of populations,...

As smart contract platforms autonomously manage billions of dollars of capital, quantifying the portfolio risk that investors engender in these systems is increasingly important. Recent work illustrates that Proof of Stake (PoS) is vulnerable to financial attacks arising from on-chain lending...

We consider a continuous-time financial market with no arbitrage and no transactions costs. In this setting, we introduce two types of perpetual contracts, one in which the payoff to the long side is a fixed function of the underlyers and the long side pays a funding rate to the short side, the...

Game theory is the study of situations with multiple decision makers, and each player's payoff depends on what other players do. A multistage game is one in which the decision makers make their decisions in multiple stages

A repeated game is where the stage game is repeated a number of times – the number of repetitions could be finite or infinite. We usually assume that (a) the stage game has a finite number of players, (b) for each player, the set of feasible actions for the stage game is finite, and (c) the...

Price discrimination requires sufficient separability of customers, sufficiently high costs of arbitrage and sufficient market power. It involves transferability of the good and/or transferability of demand. It can be categorized as first degree (or perfect), second degree (or self-selection),...

The capital asset pricing model (CAPM) for a security is a linear relationship between the expected excess return of the security and the expected excess return of the market. It was developed by William Sharpe, John Lintner and Jan Mossin. It is a useful framework to discuss idiosyncratic and...

An optimization problem with a linear objective function and linear constraints is called a linear programming problem. A vector satisfying the inequality and nonnegative constraints is called a feasible solution. If a linear programming problem and its dual have feasible solutions, then both...