We study professional players and their impacts in peer-to-peer (P2P) markets. P2P markets predominantly consisted of individual, nonprofessional agents but have recently witnessed a rapid influx of corporate suppliers and other professional agents who capitalize on these platforms. What is the...

The text addresses some of the definitions and origins of the term "Internet Balkanization." Drawing upon U.S. constitutional law and interstate commerce regulations, it argues that the term also carries strong connotations on the realms of jurisdiction and commerce. The text adds examples of...

The paper analyzes a very stylized model of crises and demonstrates how the degree of strategic complementarity in the actions of investors is a critical determinant of fragility. It is shown how the balance sheet composition of a financial intermediary, parameters of the information structure...