Related papers: A Smart-Contract to Resolve Multiple Equilibrium i…
This paper introduces CrossLink, a decentralized framework for secure cross-chain smart contract execution that effectively addresses the inherent limitations of contemporary solutions, which primarily focus on asset transfers and rely on…
Since it takes time and effort to put a new product or service on the market, one would like to predict whether it will be a success. In general this is not possible, but it is possible to follow best practices in order to maximise the…
In this paper we discuss how conventional business contracts can be converted into smart contracts---their electronic equivalents that can be used to systematically monitor and enforce contractual rights, obligations and prohibitions at run…
Market makers provide liquidity to other market participants: they propose prices at which they stand ready to buy and sell a wide variety of assets. They face a complex optimization problem with both static and dynamic components. They…
Smart contracts are cryptographic protocols that are enforced without a judiciary. Smart contracts are used occasionally in Bitcoin and are prevalent in Ethereum. Public quantum money improves upon cash we use today, yet the current…
We study the power of price discrimination via an intermediary in bilateral trade, when there is a revenue-maximizing seller selling an item to a buyer with a private value drawn from a prior. Between the seller and the buyer, there is an…
Demand response provides utilities with a mechanism to share with end users the stochasticity resulting from the use of renewable sources. Pricing is accordingly used to reflect energy availability, to allocate such a limited resource to…
Bilateral trade is one of the most natural and important forms of economic interaction: A seller has a single, indivisible item for sale, and a buyer is potentially interested. The two parties typically have different, privately known…
Smart contracts are automated or self-enforcing contracts that can be used to exchange assets without having to place trust in third parties. Many commercial transactions use smart contracts due to their potential benefits in terms of…
We consider a trader who aims to liquidate a large position in the presence of an arbitrageur who hopes to profit from the trader's activity. The arbitrageur is uncertain about the trader's position and learns from observed price…
Smart contracts on Ethereum handle millions of U.S. Dollars and other financial assets. In the past, attackers have exploited smart contracts to steal these assets. The Ethereum community has developed plenty of tools to detect vulnerable…
Blockchain technology enables the execution of collaborative business processes involving untrusted parties without requiring a central authority. Specifically, a process model comprising tasks performed by multiple parties can be…
We consider multi-item exchange markets in which agents want to receive one of their target bundles of resources. The model encompasses well-studied markets for kidney exchange, lung exchange, and multi-organ exchange. We identify a general…
The digital transformation of companies is expected to increase the digital interconnection between different companies to develop optimized, customized, hybrid business models. These cross-company business models require secure, reliable,…
Smart contracts, the cornerstone of blockchain technology, enable secure, automated distributed execution. Given their role in handling large transaction volumes across clients, miners, and validators, exploring concurrency is critical.…
Trades based on bilateral (indivisible) contracts can be represented by a network. Vertices correspond to agents while arcs represent the non-price elements of a bilateral contract. Given prices for each arc, agents choose the incident arcs…
Smart contracts are an attractive target for attackers, as evidenced by a long history of security incidents. A current limitation of smart contract verification tools is that they are not really effective in expressing and verifying…
We present a simple dynamic equilibrium model for an online exchange where both buyers and sellers arrive according to a exogenously defined stochastic process. The structure of this exchange is motivated by the limit order book mechanism…
We model the trading activity between a broker and her clients (informed and uninformed traders) as an infinite-horizon stochastic control problem. We derive the broker's optimal dealing strategy in closed form and use this to introduce an…
We study the optimal mechanism design problem faced by a market intermediary who makes revenue by connecting buyers and sellers. We first show that the optimal intermediation protocol has substantial structure: it is the solution to an…