Speaker: Huihua NIE

Topic: The Order of the Metaverse: A Perspective of Incomplete Contract Theory

Abstract: 

This paper analyzes the order of the metaverse from the perspective of incomplete contract theory. We focus on interconnection  under four modes: ducal state mode, single mode, United Nations mode and blockchain mode. Our main conclusions are: (1) each enterprise (small metaverse) must trade off between specific investment incentive and coordination benefits; (2) Compared with large enterprises, small enterprises are more willing to invest in interconnection; (3) When coordination benefits are relatively low, two enterprises forming a small metaverse can bring more profits than three enterprises forming a large metaverse; (4) Social best depends on three necessary conditions: blockchain technology, coordination efficiency and market structure with uniform scale.

Location:  via Zoom; Room 318

Meeting Time: Dec. 9th, 2021, 21:30pm CST; Dec. 8th, 2021, 8:30am EST