2018
DOI: 10.2139/ssrn.3088726
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Initial Coin Offering and Platform Building

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Cited by 171 publications
(118 citation statements)
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References 60 publications
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“…This paper contributes to two main streams of literature. First, relating to the literature on digital tokens, it provides empirical evidence indicating the dynamics of network externalities on crypto-tokens, which is consistent with the analysis of Gandal and Halaburda (2016), the model 7 for digital currencies proposed by Gans and Halaburda (2015), models that rely on user-base complementarity as in Cong, Li, and Wang (2018) and Sockin and Xiong (2018), dynamic pricing as in Catalini and Gans (2018), and coordination as in Bakos and Halaburda (2018) and Li and Mann (2018). To the best of my knowledge, this is the first paper to provide evidence consistent with such mechanisms.…”
Section: Introductionsupporting
confidence: 72%
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“…This paper contributes to two main streams of literature. First, relating to the literature on digital tokens, it provides empirical evidence indicating the dynamics of network externalities on crypto-tokens, which is consistent with the analysis of Gandal and Halaburda (2016), the model 7 for digital currencies proposed by Gans and Halaburda (2015), models that rely on user-base complementarity as in Cong, Li, and Wang (2018) and Sockin and Xiong (2018), dynamic pricing as in Catalini and Gans (2018), and coordination as in Bakos and Halaburda (2018) and Li and Mann (2018). To the best of my knowledge, this is the first paper to provide evidence consistent with such mechanisms.…”
Section: Introductionsupporting
confidence: 72%
“…For instance,Bakos and Halaburda (2018),Catalini and Gans (2018),Cong, Li, and Wang (2018),Li and Mann (2018),Sockin and Xiong (2018),Gandal and Halaburda (2016), andGans and Halaburda (2015).…”
mentioning
confidence: 99%
“…Cong et al (2018) study how tokens facilitate transactions among users in decentralised settings and allow them to capitalise on the future growth of promising platforms. Li and Mann (2018) develop a model that shows how transparent tokens' distribution through an ICO overcomes later coordination failures during platform operation. Chod and Lyandres (2018) show that an ICO can facilitate risk-sharing without dilution of control, while Canidio (2018) studies the interactions induced by ICOs between ex-ante financing and ex-post incentives.…”
Section: Literature Reviewmentioning
confidence: 99%
“…Usually, the sale process serves to finance an underlying blockchain project (Conley 2017). ICOs became a popular alternative to traditional financing methods for organizations (Bachmann et al 2019;Boreiko and Sahdev 2018;Fridgen et al 2018;Li and Mann 2018;Schweizer et al 2017).…”
Section: Blockchain and Token Economymentioning
confidence: 99%