STO vs. ICO : a theory of token issues under moral hazard and demand uncertainty
(2021)
Journal Article
Miglo, A. (2021). STO vs. ICO : a theory of token issues under moral hazard and demand uncertainty. Journal of Risk and Financial Management, 14(6), e232. https://doi.org/10.3390/jrfm14060232
This paper considers a financing problem for an innovative firm that is launching a web-based platform. The entrepreneur, on one hand, faces a large degree of demand uncertainty on his product and on the other hand has to deal with incentive problems... Read More about STO vs. ICO : a theory of token issues under moral hazard and demand uncertainty.