Distributed ledger technology especially in the form of publicly coordinated validation networks such as Ethereum and Bitcoin with their own monetary circles provide for a revealing litmus test for current financial regulatory schemes. The paper highlights the interrelation between distributed...

Virtuelle Welten, wie z.B. das Online-Spiel World of Warcraft, existieren schon seit längerem. In den vergangenen Monaten ist durch die Berichterstattung in den Medien eine neue Variante dieses Internet-Phänomens der virtuellen Welten populär geworden: die virtuelle 3-D-Welt Second Life (SL)....

The paper develops a model of inflationary finance that defines the fiscal deficit as a function of the virtual deficit—a deficit that would be observed if inflation were zero. It studies the negative relationship between the inflation rate and real government expenditures—the Patinkin...

Virtual markets allow consumers to save time costs to purchase goods and services. Countries lose relative to the conventional welfare gain when they increase consumption of non-virtual goods under free trade. We include the classical gains from trade theorem as a special case. For two identical...

Do virtual, yet informal and synchronous, interactions affect individual performance outcomes of organizational newcomers? We report results from a randomized field experiment conducted at a large global organization that estimates the performance effects of “virtual water coolers” for...

We propose experiments in virtual reality (VR) as a new approach to examining behavior in an economic context, e.g., heterogeneity in dynamic tournaments. We simulate a realistic working situation in a highly immersive environment. Implementing a tournament in VR, we are able to mitigate the...