Abstract Machines powered by artificial intelligence increasingly mediate our social, cultural,
economic and political interactions. Understanding the behaviour of artificial intelligence …

Technologies have spawned finance innovations since the early days of computer
applications in businesses, most recently reaching the stage of disruptive innovations, such …

Blockchains, and specifically smart contracts, have promised to create fair and transparent
trading ecosystems. Unfortunately, we show that this promise has not been met. We …

Cryptocurrency markets exhibit periods of large, recurrent arbitrage opportunities across
exchanges. These price deviations are much larger across than within countries, and …

In this whitepaper, we articulate a vision for the evolution of Chainlink beyond its initial
conception in the original Chainlink whitepaper. We foresee an increasingly expansive role …

To non-experts, the traditional Centralized Finance (CeFi) ecosystem may seem obscure,
because users are typically not aware of the underlying rules or agreements of financial …

Electricity markets are designed to provide reliable electricity at least cost to consumers. This
paper describes how the best designs satisfy the twin goals of short-run efficiency—making …

The amount of computational power devoted to anonymous, decentralized blockchains such
as Bitcoin's must simultaneously satisfy two conditions in equilibrium:(1) a zero-profit …

Blockchains, and specifically smart contracts, have promised to create fair and transparent
trading ecosystems. Unfortunately, we show that this promise has not been met. We …

Markets are different now, transformed by technology and high frequency trading. In this
paper, I investigate the implications of these changes for high frequency market …