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Assessing the effects of seasonal tariff-rate quotas on vegetable prices in Switzerland
Causal estimation of the short-term effects of tariff-rate quotas (TRQs)...
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Mechanism Design and Blockchains
Game theory is often used as a tool to analyze decentralized systems and...
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Approximately Socially-Optimal Decentralized Coalition Formation
Coalition formation is a central part of social interactions. In the eme...
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AStERISK: Auction-based Shared Economy ResolutIon System for blocKchain
Recent developments in blockchains and edge computing allows to deploy d...
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Criptocurrencies, Fiat Money, Blockchains and Databases
Two taxonomies of money that include cryptocurrencies are analyzed. A de...
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Locational Marginal Price Variability at Distribution Level: A Regional Study
As distribution systems move towards being more actively managed there i...
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Locational Marginal Price Variability at Distribution Level: A GB Study
As distribution systems move towards being more actively managed there i...
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What is Stablecoin?: A Survey on Price Stabilization Mechanisms for Decentralized Payment Systems
Since the first theoretical concept of blockchains was proposed, over 100 digital currencies have been issued by online platformers as cryptocurrencies and traded by online consumers mainly in emerging countries. From the perspective of online payment systems, several studies have regarded blockchains as decentralized payment systems (DPSs), enabling international payment with lower cost and higher traceability with sophisticated peer-to-peer protocols in contrast to other centralized systems. Despite the advantages, DPSs are not chosen by the owners of online shops due to the high volatility of cryptocurrency prices. Stablecoins are cryptocurrencies with price stabilization mechanisms to match the price of another currency with lower volatility. Our motivation is to gather various price stabilization mechanisms for the purpose of comparing them from the perspective of implementation and enterprise usage. After dividing the methods into four collateral types (fiat, crypto, commodity, and non-collateralized) and two layers (protocol and application), we show that non-collateralized stablecoin on the application layer is the simplest approach for implementation. Moreover, we discuss their connection with traditional economic studies on Hayek money, Seigniorage Share, and Tobin tax. Some current stablecoin projects are also discussed and compared. This is the first survey of stablecoins to the best of our knowledge.
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