Blockchain and the information - calculation problem

【Author】 Davidson, Sinclair

【Source】JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION

【影响因子】2.000

【Abstract】Ludwig von Mises produced an impossibility theorem indicating that economic calculation in the absence of market prices was impossible. This gave rise to the 'socialist calculation debate' in the first half of the twentieth century. This paper makes use of the insights of that debate to shed light on other situations where decision makers are required to allocate resources in areas where there are no market prices. A pertinent example would be most corporate social responsibility programs. In the absence of market prices local information cannot be communicated to decision makers. The paper further argues that blockchain technology can create the institutional environment for markets to emerge and consequently overcome the problem of missing prices.

【Keywords】Blockchain; Economic calculation; Information

【发表时间】2023 SEP

【收录时间】2023-09-27

【文献类型】观点阐述

【主题类别】

区块链治理-市场治理-市场分析