Blockchain, Information Production, and Ownership Structure: The Case of a Decentralized Academic Journal

49 Pages Posted: 12 Feb 2021 Last revised: 4 Mar 2021

See all articles by Kyoung Jin Choi

Kyoung Jin Choi

University of Calgary - Haskayne School of Business

Jaevin Park

University of Mississippi - Department of Economics

Date Written: January 29, 2021

Abstract

We propose a decentralized journal platform based on blockchain, in which referees are individually incentivized. We construct a model in which the journal publishes qualified papers under two types of information asymmetry: paper quality and type of referees. We investigate under what conditions equilibrium in decentralization exists or fails and it leads to a better outcome. The results from the model can be widely applied to information-production processes in intermediary funding decisions, loan inspection, and credit ratings. Our research helps to understand how to design the incentive structure for information providers (specialists) in terms of social welfare.

Keywords: Blockchain, Decentralization, Coordination Failure, Moral Hazard, Negative Externality

JEL Classification: C71, D23, D40, D61, D80, E40

Suggested Citation

Choi, Kyoung Jin and Park, Jaevin, Blockchain, Information Production, and Ownership Structure: The Case of a Decentralized Academic Journal (January 29, 2021). Available at SSRN: https://ssrn.com/abstract=3730355 or http://dx.doi.org/10.2139/ssrn.3730355

Kyoung Jin Choi

University of Calgary - Haskayne School of Business ( email )

2500 University Drive, NW
Calgary, Alberta T2N 1N4
Canada

HOME PAGE: http://sites.google.com/site/kyoungjinchoiecon/

Jaevin Park (Contact Author)

University of Mississippi - Department of Economics ( email )

371 Holman Hall
University, MS 38677
United States

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