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New Work and Recent Highlights

Trust at Scale: The Economic Limits of Cryptocurrencies and Blockchains Quarterly Journal of Economics, Revise-and-Resubmit; Draft Updated December 2023. [PDF] [Related Material]

Flow Trading Coauthors: Peter Cramton, Albert S Kyle, Jeongmin Lee, and David Malec
American Economic Review, Revise-and-Resubmit. [PDF] [Related Material]

The Economic Limits of Permissionless Consensus Coauthors: Andrew Lewis-Pye, Tim Roughgarden
The Twenty-Fifth ACM Conference on Economics and Computation (EC' 24), forthcoming. [PDF] [Related Material]

Practical Algorithms and Experimentally Validated Incentives for Equilibrium-based Fair Division (A-CEEI) Coauthors: Ruiquan Gao, Abraham Othman, Aviad Rubinstein, and Qianfan Zhang
EC '23: Proceedings of the 24th ACM Conference on Economics and Computation, (2023): 337-368. [PDF] [Related Material]

Distributing a Billion Vaccines: COVAX Successes, Challenges, and Opportunities Coauthors: Hannah Kettler, Scott Duke Kominers, Erik Osland, Canice Prendergast, and Andrew A Torkelson
Oxford Review of Economic Policy, (2022): 38, no. 4, 941-974. [PDF] [Related Material]

Recent Publications

A Theory of Stock Exchange Competition and Innovation: Will the Market Fix the Market? Coauthors: Robin Lee and John Shim
Journal of Political Economy, (2024): 132, no. 4, 1209-1246. [PDF] [Related Material]

An Economic Framework for Vaccine Prioritization Coauthors: Mohammad Akbarpour, Piotr Dworczak, and Scott Duke Kominers
The Quarterly Journal of Economics, (2024): 139, no.1, 359-417. [PDF] [Related Material]

Quantifying the High-Frequency Trading “Arms Race” Coauthors: Matteo Aquilina and Peter O'Neill
The Quarterly Journal of Economics, (2022): 137, no. 1, 493-564. [PDF] [Related Material]

Market Design to Accelerate Covid-19 Vaccine Supply Coauthors: Juan Camilo Castillo, Amrita Ahuja, Susan Athey, Arthur Baker, Tasneem Chipty, Rachel Glennerster, Scott Duke Kominers, Michael Kremer, Greg Larson, Jean Lee, Canice Prendergast, Christopher M Snyder, Alex Tabarrok, Brandon Joel Tan, and Witold Więcek
Science, (2021): 68, no.2, 1107-1109. [PDF] [Related Material]

Using publication-listing template

New Work and Recent Highlights

Trust at Scale: The Economic Limits of Cryptocurrencies and Blockchains

Quarterly Journal of Economics, Revise-and-Resubmit; Draft Updated December 2023.
Sources for Appendix C: 51% Attacks, Crypto Thefts and Crypto Collapses to Date
June 2018 version, NBER Working Paper No. 24717
Harvard Harris Lecture: The Economics of Cryptocurrencies (November 2022)
[PDF] [Slides] [All Related Material]

Flow Trading

Coauthors: Peter Cramton, Albert S Kyle, Jeongmin Lee, and David Malec
American Economic Review, Revise-and-Resubmit.
[PDF] [Slides] [All Related Material]

The Economic Limits of Permissionless Consensus

Coauthors: Andrew Lewis-Pye, Tim Roughgarden
The Twenty-Fifth ACM Conference on Economics and Computation (EC' 24), forthcoming.
Draft available at arXiv:2405.09173
[PDF] [All Related Material]

Practical Algorithms and Experimentally Validated Incentives for Equilibrium-based Fair Division (A-CEEI)

Coauthors: Ruiquan Gao, Abraham Othman, Aviad Rubinstein, and Qianfan Zhang
EC '23: Proceedings of the 24th ACM Conference on Economics and Computation, (2023): 337-368.
Al Roth’s Market Design Blog
[PDF] [All Related Material]

Distributing a Billion Vaccines: COVAX Successes, Challenges, and Opportunities

Coauthors: Hannah Kettler, Scott Duke Kominers, Erik Osland, Canice Prendergast, and Andrew A Torkelson
Oxford Review of Economic Policy, (2022): 38, no. 4, 941-974.
[PDF] [All Related Material]

Recent Publications

A Theory of Stock Exchange Competition and Innovation: Will the Market Fix the Market?

Coauthors: Robin Lee and John Shim
Journal of Political Economy, (2024): 132, no. 4, 1209-1246.
AEA/AFA Joint Luncheon Address, Will the Market Fix the Market?
Transcript, Will the Market Fix the Market?
Slides, Will the Market Fix the Market?
[PDF] [Slides] [All Related Material]

An Economic Framework for Vaccine Prioritization

Coauthors: Mohammad Akbarpour, Piotr Dworczak, and Scott Duke Kominers
The Quarterly Journal of Economics, (2024): 139, no.1, 359-417.
[PDF] [Slides] [All Related Material]

Quantifying the High-Frequency Trading “Arms Race”

Coauthors: Matteo Aquilina and Peter O'Neill
The Quarterly Journal of Economics, (2022): 137, no. 1, 493-564.
Winner -- WFA 2020 Two Sigma Award for Best Paper on Investment Management
Data and Code Appendix
Exchange Message Data Codebook
FCA Occasional Paper landing page with brief summary and links
[PDF] [Slides] [All Related Material]

Market Design to Accelerate Covid-19 Vaccine Supply

Coauthors: Juan Camilo Castillo, Amrita Ahuja, Susan Athey, Arthur Baker, Tasneem Chipty, Rachel Glennerster, Scott Duke Kominers, Michael Kremer, Greg Larson, Jean Lee, Canice Prendergast, Christopher M Snyder, Alex Tabarrok, Brandon Joel Tan, and Witold Więcek
Science, (2021): 68, no.2, 1107-1109.
Bigger Is Better When It Comes to Vaccine Production
How Can More Covid-19 Vaccines be Made Available?
Management Conference ’21: Perspectives on COVID-19
[PDF] [Slides] [All Related Material]