evidence from Bitcoin mining supports our model predictions. The economic insights inform many other blockchain protocols as …

We analyze the Bitcoin protocol for electronic peer-to-peer payments and the operations that support the “blockchain … reward to mining. The endogenous level of computational difficulty built into the Bitcoin protocol does not mitigate this …

demand rather than discounting cashflows as in standard valuation models. Endogenous platform adoption builds upon user …

Econometric estimates of the responsiveness of health-related consumer demand to higher prices are often key … ingredients for policy analysis. Drawing on several examples, especially that of cigarette demand, we review the potential … advantages and challenges of synthesizing econometric evidence on the price-responsiveness of consumer demand. We argue that the …

demand, the size of the price change, and the degree of frictions. The degree of frictions is measured by the utility losses … labor supply elasticity of 0.33 on the intensive margin and 0.25 on the extensive margin after accounting for frictions …

elasticity of the demand for the output and the impact of demand and cost shifters. The use of this framework helps, in the first … way to assess the welfare effects of firms' innovative actions by estimating their impact on both cost and demand. We show …

empirical analysis of firm behavior that compares corporate demand for property and catastrophe insurance (here, terrorism). We … combine demand and supply data and apply a simultaneous-equation approach to address the problem of endogenous premium … decisions. The main finding is that demand for property and catastrophe insurance are not very different and that the demand for …

This paper exploits the seasonal and annual changes in marginal prices for water to estimate the price elasticity of … demand by residential households for water. It uses the changes in distributions of water using the census block group levels …