With the rise of social media, investors have a new tool to measure sentiment in real time. However, the nature of these sources of data raises serious questions about its quality. Since anyone on social media can participate in a conversation about markets -- whether they are informed or not --...

We analyze the relation between stock market liquidity and real-time measures of sentiment obtained from the social-media platforms StockTwits and Twitter. Linear regression analysis shows that extreme sentiment corresponds to higher demand and lower supply of liquidity, with negative sentiment...

The agglomeration of rules and regulations over time has produced a body of legal code that no single individual can fully comprehend. This complexity produces inefficiencies, makes the processes of understanding and changing the law difficult, and frustrates the fundamental principle that the...

The decentralized nature of blockchain markets has given rise to a complex and highly heterogeneous market structure, gaining increasing importance as traditional and decentralized (DeFi) finance become more interconnected. This paper introduces the DeFi intermediation chain and provides...

The decentralized nature of blockchain markets has given rise to a complex and highly heterogeneous market structure, gaining increasing importance as traditional and decentralized (DeFi) finance become more interconnected. This paper introduces the DeFi intermediation chain and provides...