A conference paper by Darcy Allen, Chris Berg, Sinclair Davidson, Mikayla Novak and Jason Potts. Presented at the APEC Study Centres’ Consortium Conference, Papua New Guinea, 2018. Available at SSRN. Abstract: From the adoption of the shipping container to coordinated trade liberalisation, reductions in trade costs have expanded the potential of global trade and enabled modern […]
A working paper by Chris Berg, Sinclair Davidson and Jason Potts. Available at SSRN. Abstract: Blockchains are the distributed, decentralised ledger technology underlying Bitcoin and other cryptocurrencies. We apply Oliver Williamson’s transactions cost analysis to the blockchain consensus mechanism. Blockchains reduce the costs of opportunism but are not “trustless”. We show that blockchains are trust […]
A working paper by Chris Berg, Sinclair Davidson and Jason Potts. Available at SSRN. Abstract: Identification forms a key part of all but the least sophisticated economic and political transactions. More complex or significant transactions demand more formal identification of the parties involved. In this paper we develop an institutional economics of identity. We distinguish […]
Working paper by Chris Berg Abstract: In the new institutional economics of the blockchain, the blockchain is an institutional technology – a protocol – to coordinate exchange between groups that may have different technological and institutional capacities. Blockchain is not the only technology in history to have these characteristics. This paper looks at the role […]
Working paper by Chris Berg Abstract: Representative democracy consists of a chain of delegation from voters to the executive and a corresponding chain of accountability, with some questions (particularly constitutional questions) reserved for popular vote. This structure reflects the high transaction costs of coordinating preferences among a large and diverse population, which has in part […]
Working Paper by Jason Potts, Ellie Rennie and Jake Goldenfein Abstract: The Smart City agenda of integrating ICT and Internet of Things (IoT) informatic infrastructure to improve the efficiency and adaptability of city governance has been shaping urban development policy for more than a decade now. A smart city has more data, gathered though new […]
Working paper by Darcy WE Allen, Chris Berg, Aaron M Lane, and Jason Potts Abstract: Democracy is an economic problem of choice constrained by transaction costs and information costs. Society must choose between competing institutional frameworks for the conduct of voting and elections. These decisions are constrained by the technologies and institutions available. Blockchains are […]
By Darcy WE Allen Abstract: This paper analyses the private governance mechanisms facilitating the entrepreneurial discovery of uses for a new potential general purpose technology, blockchain. The contribution is to outline and analyse three main types of private governance mechanisms in which crypto-entrepreneurs undertake non-price coordination with others, including bitcoin embassies, hack-a-thons and online forums. […]
By Darcy WE Allen Abstract: An enquiry into the entrepreneurial development of the crypto-economy: a new decentralised frontier society defined by the potential general purpose technology, blockchain. The process of discovering blockchain governance mechanisms for the crypto-economy is analogous to an economic development problem, requiring non-price coordination of dispersed knowledge about the complementarities of ‘protective-tier’ […]
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