We develop a theory of blockchain governance using tools from formal political theory. The software underlying blockchain projects is frequently updated (forked) to implement new policies, and these forks are the subject of our inquiry. We investigate the ways in which the decentralized...

Ascending price auctions typically involve a single price path with buyers paying their final bid price. Using this traditional definition, no ascending price auction can achieve the Vickrey-Clarke-Groves (VCG) outcome for general private valuations in the combinatorial auction setting. We relax...