Fundamental Pricing of Utility Tokens
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Note: View the original document on HAL open archive server: https://hal.science/hal-03096284
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- Julien Prat & Vincent Danos & Stefania Marcassa, 2019. "Fundamental Pricing of Utility Tokens," THEMA Working Papers 2019-11, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
- Julien Prat & Vincent Danos & Stefania Marcassa, 2021. "Fundamental Pricing of Utility Tokens," Working Papers hal-03096267, HAL.
References listed on IDEAS
- Lin William Cong & Ye Li & Neng Wang, 2021.
"Tokenomics: Dynamic Adoption and Valuation [The demand of liquid assets with uncertain lumpy expenditures],"
The Review of Financial Studies, Society for Financial Studies, vol. 34(3), pages 1105-1155.
- Cong, Lin William & Li, Ye & Wang, Neng, 2018. "Tokenomics: Dynamic Adoption and Valuation," Working Paper Series 2018-15, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Lin William Cong & Ye Li & Neng Wang, 2020. "Tokenomics: Dynamic Adoption and Valuation," NBER Working Papers 27222, National Bureau of Economic Research, Inc.
- John Kareken & Neil Wallace, 1981. "On the Indeterminacy of Equilibrium Exchange Rates," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 96(2), pages 207-222.
- Christian Catalini & Joshua S. Gans, 2018. "Initial Coin Offerings and the Value of Crypto Tokens," NBER Working Papers 24418, National Bureau of Economic Research, Inc.
- Athey, Susan & Parashkevov, Ivo & Sarukkai, Vishnu & Xia, Jing, 2016. "Bitcoin Pricing, Adoption, and Usage: Theory and Evidence," Research Papers 3469, Stanford University, Graduate School of Business.
- Canidio, Andrea, 2018. "Financial incentives for open source development: the case of Blockchain," MPRA Paper 85352, University Library of Munich, Germany.
Citations
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Cited by:
- Schilling, Linda & Fernández-Villaverde, Jesús & Uhlig, Harald, 2024.
"Central bank digital currency: When price and bank stability collide,"
Journal of Monetary Economics, Elsevier, vol. 145(C).
- Schilling, Linda & Fernandez-Villaverde, Jesus & Uhlig, Harald, 2020. "Central Bank Digital Currency: When price and bank stability collide," MPRA Paper 113248, University Library of Munich, Germany, revised 01 May 2022.
- Fernández-Villaverde, Jesús & Schilling, Linda & Uhlig, Harald, 2024. "Central bank digital currency: when price and bank stability collide," Working Paper Series 2888, European Central Bank.
- Schilling, Linda & Fernandez-Villaverde, Jesus & Uhlig, Harald, 2020. "Central bank digital currency: When price and bank stability collide," MPRA Paper 114883, University Library of Munich, Germany, revised 05 Oct 2022.
- Linda Schilling & Jesús Fernández-Villaverde & Harald Uhlig, 2020. "Central Bank Digital Currency: When Price and Bank Stability Collide," CESifo Working Paper Series 8773, CESifo.
- Linda Schilling & Jesús Fernández-Villaverde & Harald Uhlig, 2020. "Central Bank Digital Currency: When Price and Bank Stability Collide," NBER Working Papers 28237, National Bureau of Economic Research, Inc.
- Linda Schilling & Jesús Fernández-Villaverde & Harald Uhlig, 2020. "Central Bank Digital Currency: When Price and Bank Stability Collide," Working Papers 2020-180, Becker Friedman Institute for Research In Economics.
- Fernández-Villaverde, Jesús & Schilling, Linda & Uhlig, Harald, 2020. "Central Bank Digital Currency: When Price and Bank Stability Collide," CEPR Discussion Papers 15555, C.E.P.R. Discussion Papers.
- Andrea Canidio, 2023. "Auctions with Tokens: Monetary Policy as a Mechanism Design Choice," Papers 2301.13794, arXiv.org, revised Aug 2023.
- Ye Li & Simon Mayer & Simon Mayer, 2021. "Money Creation in Decentralized Finance: A Dynamic Model of Stablecoin and Crypto Shadow Banking," CESifo Working Paper Series 9260, CESifo.
- Arkorful, Gideon Bruce & Chen, Haiqiang & Gu, Ming & Liu, Xiaoqun, 2023. "What can we learn from the convenience yield of Bitcoin? Evidence from the COVID-19 crisis," International Review of Economics & Finance, Elsevier, vol. 88(C), pages 141-153.
- Schilling, Linda, 2021. "ICO versus Credit versus Venture Capital Financing under Stochastic Demand: A comment on '`Entrepreneurial Incentives and the Role of Initial Coin Offerings'' by R. Garratt and M. v. Oordt," MPRA Paper 116492, University Library of Munich, Germany.
- Marcelo A. T. Aragão, 2021. "A Few Things You Wanted to Know about the Economics of CBDCs, but were Afraid to Model: a survey of what we can learn from who has done," Working Papers Series 554, Central Bank of Brazil, Research Department.
- Yukun Liu & Aleh Tsyvinski & Xi Wu, 2022. "Common Risk Factors in Cryptocurrency," Journal of Finance, American Finance Association, vol. 77(2), pages 1133-1177, April.
- Aggelos Kiayias & Philip Lazos & Jan Christoph Schlegel, 2023. "Would Friedman Burn your Tokens?," Papers 2306.17025, arXiv.org.
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More about this item
Keywords
Asset pricing; utility tokens; Blockchain; ICOs JEL CODE: G12; G24;All these keywords.
JEL classification:
- G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
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