We investigate a two-station queueing system where strategic customers must be sequentially serviced at both stations. We prove that an established property - that the distribution of the total time spent in a two-station system is independent of the chosen route when services times are...

We study lending in decentralized finance facilitated by a programmable interest rate rule set by a Protocol for Loanable Funds (PLF). PLFs suffer a disadvantage when compared to traditional lending platforms, given their inability to incorporate off-chain information into the borrowing and...

This paper uses a partial equilibrium framework to analyze PoW blockchain network and proves that in the short-term, network hashrate shock affects average miner income through both transaction fee income and block reward income. Using Bitcoin blockchain data, we show that miner average...

The price-bubble and crash formation process is theoretically investigated in a two-asset equilibrium model. Sufficient and necessary conditions are derived for the existence of average equilibrium price dynamics of different agent-based models, where agents are distinguished in terms of factor...

We develop a simple equilibrium model of rental markets for housing in which eviction occurs endogenously. Both landlords and renters lack commitment; a landlord evicts a delinquent tenant if they do not expect total future rent payments to cover costs, while tenants cannot commit to paying more...