Although blockchain technology and cryptocurrencies have grown in popularity over the past years, there does not seem to be a consensus if they bring any value to economic interactions. In this paper, I argue that a fundamental value the blockchain provides is commitment. I develop a model of an...

The aim of our systematic review was to inspect the recently published literature on decentralized governance systems and integrate the insights it articulates on blockchain technology and smart contracts by employing Preferred Reporting Items for Systematic Reviews and Meta-analysis (PRISMA)...

China's fiscal decentralisation system has led to the increase of local governments' independent decision-making power, which promotes to the optimisation of industrial structure and has an impact on energy efficiency. This study analyzes the social network of energy efficiency based on gravity...

We explore how government fragmentation affects public education provision by examining the case of Chile, which created 11 municipalities between 1994 and 2004. Using territories that sought, but failed to, achieve independence as controls, we find that schools in newly created municipalities,...

Decentralized Autonomous Organization (DAO) provides a decentralized governance solution through blockchain, where decision-making process relies on on-chain voting and follows majority rule. This paper focuses on the most influential DAO, namely MakerDAO, and we find voters fall into different...

Among the ecosystem of decentralized financial services, yield farming is a complex investment strategy with hidden downside risks providing opportunities for passively earning income. We characterize the risk and return characteristics of yield farming and show that yield farms dynamically...