We study the price discovery process of cryptocurrencies that trade in unregulated and fragmented markets and have a non-traditional business model. ICOs exhibit significant inefficiencies with VRs (Variance Ratios) less than 0.7 for up to 5-years from the issue date. IEOs with a similar...

This paper studies the effects of information exchange and social networks on the performance of prediction markets with endogenous information acquisition. We provide a game-theoretic framework to resolve the question: Can social networks and information exchange promote the forecast efficiency...

Information aggregation mechanisms are designed explicitly for collecting and aggregating dispersed information. An excellent example of the use of this "wisdom of crowds" is a prediction market. The purpose of our Twitter-based prediction market is to suggest that carefully designed market...

Opinion spammers exploit consumer trust by posting false or deceptive reviews that may have a negative impact on both consumers and businesses. These dishonest posts are difficult to detect because of complex interactions between several user characteristics such as review velocity, volume, and...