Innovation in Decentralized Markets: Technology vs. Synthetic Products

dvances in market-clearing technology for multiple assets and synthetic products present alternative ways to leverage complementarities and substitutabilites in asset returns. This paper compares their equilibrium and welfare effects. In competitive markets, either instrument can mimic the efficient design.

• Use cases, geography and tags
• Organizations that created, adopted or are mentioned
• Ecosystem position
• Link to the original asset
• Comments and reactions