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Faculté et Recherche

Fundamental Pricing of Utility Tokens

16 avr
2019
14H00
Jouy-en-Josas

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2019-04-16T14:00:00 2019-04-16T15:15:00 Fundamental Pricing of Utility Tokens Economics & Decision Sciences Dept. Speaker : Julien PRAT (CREST) HEC Campus - Building T - Room T004 Jouy-en-Josas

Département Economie et Sciences de la Décision

Intervenant : Julien PRAT (CREST)

HEC Campus - Bâtiment T - Salle T004

We explain how to evaluate the fundamental price of utility tokens. Our model endogenizes the velocity of circulation of tokens and yields a pricing formula that is fully microfounded. According to our approach, tokens are valuable because they have to be immediately accessible when the platform service is needed, a requirement that is reminiscent of the cash-in-advance constraint in the theory of money.

Participer

Add to Calendar
2019-04-16T14:00:00 2019-04-16T15:15:00 Fundamental Pricing of Utility Tokens Economics & Decision Sciences Dept. Speaker : Julien PRAT (CREST) HEC Campus - Building T - Room T004 Jouy-en-Josas