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Blockchain Economics
Abadi, Joseph - 2018
When is record-keeping better arranged through a blockchain than through a traditional centralized intermediary? The … out a blockchain trilemma: no ledger can satisfy all three properties simultaneously. A centralized record-keeper extracts …
Persistent link: https://www.econbiz.de/10012481054
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The Economic Limits of Bitcoin and the Blockchain
Budish, Eric - 2018
, these two equations imply that (3) the recurring, "flow", payments to miners for running the blockchain must be large … versus stock) if both (i) the mining technology used to run the blockchain is both scarce and non-repurposable, and (ii) any … majority attack is a "sabotage" in that it causes a collapse in the economic value of the blockchain; however, reliance on non …
Persistent link: https://www.econbiz.de/10012453003
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"Zero Cost'' Majority Attacks on Permissionless Blockchains
Gans, Joshua; Hałaburda, Hanna - National Bureau of Economic Research - 2023
Permissionless blockchains were constructed with a view to being sustainably secure. At the heart of blockchain … propose blocks that would be added to the blockchain. A key rationale for that cost was to make attacks on the network, which …
Persistent link: https://www.econbiz.de/10014322860
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The Anatomy of Cyber Risk
Jamilov, Rustam; Rey, Hélène; Tahoun, Ahmed - National Bureau of Economic Research - 2021
We construct novel text-based measures of firm-level cyber risk exposure based on quarterly earnings calls of 12,000+ firms from 85 countries over 20+ years. We categorize each cyber-related discussion into topics that capture sentiment, monetary loss, country names, etc. We document new facts...
Persistent link: https://www.econbiz.de/10012585390
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Nonrivalry and the Economics of Data
Jones, Charles I. - 2019
Data is nonrival: a person's location history, medical records, and driving data can be used by any number of firms simultaneously. Nonrivalry leads to increasing returns and implies an important role for market structure and property rights. Who should own data? What restrictions should apply...
Persistent link: https://www.econbiz.de/10012480204
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Cybersecurity Risk
Florakis, Chris - 2020
We develop a novel firm-level measure of cybersecurity risk using textual analysis of cybersecurity-risk disclosures in corporate filings. The measure successfully identifies firms extensively discussing cybersecurity risk in their 10-K, displays intuitive relations with quantitative measures of...
Persistent link: https://www.econbiz.de/10012482415
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Securing Their Future? Entry And Survival In The Information Security Industry
Arora, Ashish - 2007
In this paper we study how the existence of a functioning market for technology differentially conditions the entry strategy and survival of different types of entrants, and the role of scale, marketing ability and technical assets. Markets for technology facilitate entry of firms that lack...
Persistent link: https://www.econbiz.de/10012465005
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Artificial Intelligence and Consumer Privacy
Jin, Ginger Zhe - 2018
Thanks to big data, artificial intelligence (AI) has spurred exciting innovations. In the meantime, AI and big data are reshaping the risk in consumer privacy and data security. In this essay, I first define the nature of the problem and then present a few facts about the ongoing risk. The bulk...
Persistent link: https://www.econbiz.de/10012453461
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Network-Mediated Knowledge Spillovers : A Cross-Country Comparative Analysis of Information Security Innovations
Branstetter, Lee - 2017
A large and growing literature has used patent and patent citation data to measure knowledge spillovers across inventions and organizations, but relatively few papers in this literature have explicitly considered the collaboration networks formed by inventors as a mechanism for shaping and...
Persistent link: https://www.econbiz.de/10012453903
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Digital Currencies, Decentralized Ledgers, and the Future of Central Banking
Raskin, Max - 2016
may pressure central banks to pursue tighter monetary policy. More interestingly, the blockchain technology behind digital …
Persistent link: https://www.econbiz.de/10012456437