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article demonstrates that blockchain creates a variety of new externalities, which cannot be addressed by the decentralised …. In addition, more immediate externalities emerge, for example through the operational and legal risks of being part of a …
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In this paper, we show that, in 1961 and before he had read "The Problem of Social Cost", Calabresi reached exactly the same conclusions as the one reached by Coase and summarized by Stigler as the "Coase theorem" but he believed that this result was valid only in the theoretical world of the...
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