Lambrecht, Marco; Sofianos, Andis; Xu, Yilong - 2021 - 1. Überarbeitung
The massive price bubbles of decentralized cryptocurrencies, such as Bitcoin, have created a puzzle for economists. How … pricing. In a controlled laboratory experiment, we observe that the formation of price bubbles can be causally attributed to … mining. Moreover, bubbles are more pronounced if the mining capacity is centralized to a small group of individuals. Analysis …