The Conceptual Flaws of Decentralized Automated Market Making
Published Online:11 Sep 2023https://doi.org/10.1287/mnsc.2021.02802
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The replication files for this article are available HERE.
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Volume 69, Issue 11
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Pages 6417-7150, iii-iv
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- Received:August 23, 2021
- Accepted:May 31, 2023
- Published Online:September 11, 2023
Copyright © 2023, INFORMS
Cite as
Andreas Park (2023) The Conceptual Flaws of Decentralized Automated Market Making. Management Science 69(11):6731-6751.
https://doi.org/10.1287/mnsc.2021.02802
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The author thanks Cam Harvey, Julien Prat, Agostino Capponi, Christine Parlour, Alfred Lehar, Fas Qureshi, Will Cong (the editor), the associate editor, and two anonymous referees for insightful discussions and feedback. The author is grateful for comments from seminar participants at the 2022 Rethinc Labs Conference at the University of North Carolina Kenan-Flagler, the 2021 1st Digital De-Fi (Decentralized Finance) and Financial Services Conference, the 2021 Blockchain Technology Symposium, the 2021 Northern Finance Association conference, and Tokenomics 2021. This paper was previously circulated under the title “The Conceptual Flaws of Constant Product Market Making.”
