, 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 …

This paper reviews the economic literature on the European Union's General Data Protection Regulation (GDPR). I … highlight key challenges for studying the regulation including the difficulty of finding a suitable control group, variable firm … compliance and regulatory enforcement, as well as the regulation's impact on data observability. The economic literature on the …

, blockchain transparency and digital footprints enable effective forensics for tracking, monitoring, and shutting down dominant …

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 …

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 …