The Microeconomics of Cryptocurrencies

Hanna Halaburda, Guillaume Haeringer, Joshua Gans and Neil Gandal

No 27477, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Since its launch in 2009 much has been written about Bitcoin, cryptocurrencies and blockchains. While the discussions initially took place mostly on blogs and other popular media, we now are witnessing the emergence of a growing body of rigorous academic research on these topics. By the nature of the phenomenon analyzed, this research spans many academic disciplines including macroeconomics, law and economics and computer science. This survey focuses on the microeconomics of cryptocurrencies themselves. What drives their supply, demand, trading price and competition amongst them. This literature has been emerging over the past decade and the purpose of this paper is to summarize its main findings so as to establish a base upon which future research can be conducted.

JEL-codes: D01 D4 (search for similar items in EconPapers)
Date: 2020-07
New Economics Papers: this item is included in nep-gth and nep-pay
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Citations: View citations in EconPapers (18)

Published as Hanna Halaburda & Guillaume Haeringer & Joshua Gans & Neil Gandal, 2022. "The Microeconomics of Cryptocurrencies," Journal of Economic Literature, vol 60(3), pages 971-1013.

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Related works:
Journal Article: The Microeconomics of Cryptocurrencies (2022)
Working Paper: The Microeconomics of Cryptocurrencies (2021)
Working Paper: The Microeconomics of Cryptocurrencies (2020)
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