Related papers: Decentralized Token Economy Theory (DeTEcT)
Many recent models of trade dynamics use the simple idea of wealth exchanges among economic agents in order to obtain a stable or equilibrium distribution of wealth among the agents. In particular, a plain analogy compares the wealth in a…
Private blockchain is driving the creation of business networks, resulting in the creation of new value or new business models to the enterprises participating in the network. Such business networks form when enterprises come together to…
Automated market makers (AMMs) are one of the most prominent decentralized finance (DeFi) applications. AMMs allow users to trade different types of crypto-tokens, without the need to find a counter-party. There are several implementations…
We propose a stochastic map model of economic dynamics. In the last decade, an array of observations in economics has been investigated in the econophysics literature, a major example being the universal features of inequality in terms of…
For more than a century, the grid has operated in a centralized top-down fashion. However, as distributed energy resources (DERs) penetration grows, the grid edge is increasingly infused with intelligent computing and communication…
Debates about artificial intelligence capabilities and risks are often conducted without quantitative grounding. This paper applies the methodology of MacKay (2009) -- who reframed energy policy as arithmetic -- to the economy of AI…
Financial markets are undergoing an unprecedented transformation. Technological advances have brought major improvements to the operations of financial services. While these advances promote improved accessibility and convenience,…
We study an agent-based model of evolution of wealth distribution in a macro-economic system. The evolution is driven by multiplicative stochastic fluctuations governed by the law of proportionate growth and interactions between agents. We…
This work bridges the technical concepts underlying distributed computing and blockchain technologies with their profound socioeconomic and sociopolitical implications, particularly on academic research and the healthcare industry. Several…
We investigate, at the fundamental level, the questions of `why', `when' and `how' one could or should reach out to poor and vulnerable people to support them in the absence of governmental institutions. We provide a simple and new approach…
In complex systems, many different parts interact in non-obvious ways. Traditional research focuses on a few or a single aspect of the problem so as to analyze it with the tools available. To get a better insight of phenomena that emerge…
Blockchains and peer-to-peer systems are part of a trend towards computer systems that are "radically decentralised", by which we mean that they 1) run across many participants, 2) without central control, and 3) are such that qualities 1…
The emerging "agentic web" envisions large populations of autonomous agents coordinating, transacting, and delegating across open networks. Yet many agent communication and commerce protocols treat agents as low-cost identities, despite the…
This paper introduces a novel framework for designing fair and sustainable unemployment benefits, grounded in cooperative game theory and real-time fiscal policy. The labor market is modeled as a coalitional game, where a random subset of…
With emergence of blockchain technologies and the associated cryptocurrencies, such as Bitcoin, understanding network dynamics behind Blockchain graphs has become a rapidly evolving research direction. Unlike other financial networks, such…
We introduce semitopology, a generalisation of point-set topology that removes the restriction that intersections of open sets need necessarily be open. The intuition is that points represent participants in a decentralised system, and open…
The decentralized trading market approach, where both autonomous agents and people can consume and produce services expanding own opportunities to reach goals, looks very promising as a part of the Fourth Industrial revolution. The key…
There is always demand for integrating data into microeconomic decision making. Participatory sensing deals with how real-world data may be extracted with stakeholder participation and resolves a problem of Big Data, which is concerned with…
This paper presented insights into the implementation of transactive multi-agent systems over flow networks where local resources are decentralized. Agents have local resource demand and supply, and are interconnected through a flow network…
A knowledge market can be described as a type of market where there is a consistent supply of data to satisfy the demand for information and is responsible for the mapping of potential problem solvers with the entities which need these…