We consider platform competition in a two-sided market, where the two sides (buyers and sellers) have ex-ante uncertainty and ex- post asymmetric information concerning the value of a new tech- nology. We find that platform competition may lead to a market failure: competition may result in a...

We consider platform competition in a two-sided market, where the two sides (buyers and sellers) have ex-ante uncertainty and ex-post asymmetric information concerning the value of a new technology. We find that platform competition may lead to a market failure: competition may result in a lower...

The increased attention to blockchain-related technologies has brought into focus ``smart" contacts, whose key feature is the automated algorithmic execution based on mapping states of the world to corresponding contractual actions. Smart contracts require digital inputs that determine when such...