Enabling reciprocity through blockchain design
Publikation: Working paper › Forskning
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Enabling reciprocity through blockchain design. / Gudmundsson, Jens; Hougaard, Jens Leth.
Department of Food and Resource Economics, University of Copenhagen, 2021.Publikation: Working paper › Forskning
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TY - UNPB
T1 - Enabling reciprocity through blockchain design
AU - Gudmundsson, Jens
AU - Hougaard, Jens Leth
PY - 2021
Y1 - 2021
N2 - We introduce a reciprocity protocol, an innovative approach to coordinating and sharing rewards in blockchains. Inherently decentralized and easy to implement, it puts emphasis on incentives rather than forcing specic sharing rules from the outset. Analyzing the non-cooperative game the protocol induces, we identify a robust, strict, and Pareto-dominant symmetric equilibrium. In it, even self-centered participants show extensive reciprocity to one another. Thus, despite a settingthat is generally unfavorable to reciprocal behavior, the protocol manages to build trust between the users by taking on a role akin to a social contract.
AB - We introduce a reciprocity protocol, an innovative approach to coordinating and sharing rewards in blockchains. Inherently decentralized and easy to implement, it puts emphasis on incentives rather than forcing specic sharing rules from the outset. Analyzing the non-cooperative game the protocol induces, we identify a robust, strict, and Pareto-dominant symmetric equilibrium. In it, even self-centered participants show extensive reciprocity to one another. Thus, despite a settingthat is generally unfavorable to reciprocal behavior, the protocol manages to build trust between the users by taking on a role akin to a social contract.
M3 - Working paper
T3 - IFRO Working Paper
BT - Enabling reciprocity through blockchain design
PB - Department of Food and Resource Economics, University of Copenhagen
ER -
ID: 252722602