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 …

, 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 …

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 …

We report results from a large randomized natural field experiment conducted in southwestern China in the context of …

begin by reporting results from an experiment in which we investigate how cooperation in allocation games is affected by the …

, can affect outcomes. We explore the economics of revealing type in a simple laboratory experiment to learn about the …