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This chapter is based on the article “Tokenomics: When Tokens Beat Equity” by Katya Malinova and Andreas Park, published in Management Science in 2023 ( https://doi.org/10.1287/mnsc.2023.4882 ). Katya, an Associate Professor and Mackenzie Investments Chair in Evidence-Based Investment Management at the DeGroote School of Business, McMaster University, kindly agreed to summarize their joint research and serves as the corresponding author for this chapter.

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When Do Tokens Beat Equity? The Economics of Utility Tokens

  • 章节

  • 发表日期：

    2025年

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  • Katya Malinova,
  • Andreas Park

摘要

This chapter is based on the article “Tokenomics: When Tokens Beat Equity” by Katya Malinova and Andreas Park, published in Management Science in 2023 ( https://doi.org/10.1287/mnsc.2023.4882 ). Katya, an Associate Professor and Mackenzie Investments Chair in Evidence-Based Investment Management at the DeGroote School of Business, McMaster University, kindly agreed to summarize their joint research and serves as the corresponding author for this chapter.