The recent emergence of blockchains may be considered a critical turning point in organizing collaborations. We outline the historical background and the fundamental features of blockchains and present an analysis with a focus on their role as governance mechanisms. Specifically, we argue that...

"Blockchains have become increasingly important for organizing contemporary economic and social activities. This Element offers a deeper understanding of blockchains to both management scholars and practitioners, with an emphasis on blockchains' strategic implications for fundamental issues in...

We axiomatize subjective probabilities on finite domains without requiring richness in the outcome space or restrictions on risk preference using Event Exchangeability (Chew and Sagi, 2006), which has been implicit in the prior literature (Savage, 1954; Machina and Schmeidler, 1992; Grant, 1995). In...

Motivated by the sure-thing principle (STP) in Savage (1954), we offer a new solution concept—STP-obvious dominance (STP-OD) equilibrium—for dynamic games in which the obviousness of the dominating strategy (Li, 2017) may be facilitated by players’ application of the sure-thing principle...