Non-fungible tokens (NFTs) on blockchains have recently emerged as a means of certifying the originality of digital properties, such as artwork. In this paper we examine limited-edition auctions for the sale of digital artwork using NFTs. We present a new auction model for selling multiple units...

Blockchain applications are increasingly experimenting with novel governance mechanisms that address issues that are important for their community: resistance to voter fraud in the form a Sybil attack; resistance to the formation of a plutocracy within the community; and, the ability to express...

Recent advancements in decentralized finance (DeFi) have resulted in a rapid increase in the use of Automated Market Makers (AMMs) for creating decentralized exchanges (DEXs). In this paper, we organize these developments by treating an AMM as a neoclassical black-box characterized by the...

We present an analytical approach to institutional analysis that draws inspiration from control process engineering in the physical sciences. We characterize smart institutions as having three foundational features. First, smart institutions are context sensitive and expressly allow for a...