More on this topic

Podcasts episode·Apr 1, 2025

Crypto’s Fatal Flaw: Trust, Scale, and the Economics of Blockchain

Tess Vigeland and Eric Budish
Crypto’s most groundbreaking innovation, permissionless consensus, may also be its greatest vulnerability. In this episode, Chicago Booth economist Eric Budish breaks down the core mechanics of blockchain trust, the staggering energy costs behind mining, and why these systems are fundamentally...
Topics: Financial Markets, Technology & Innovation
Research Briefs·May 1, 2024

Access to Credit Reduces the Value of Insurance

Sonia Jaffe, Anup Malani, and Julian Reif
Insurance is less valuable when people can also smooth their spending using loans. Access to a five-year loan decreases the average value of insurance by $232–$366, or 58–61%.
Topics: Financial Markets
Research Briefs·Feb 27, 2024

A Commitment Rule for Insolvency Forum

Anthony J. Casey, Aurelio Gurrea-Martínez, and Robert K. Rasmussen
A new commitment rule regarding forums for international insolvency would not only benefit debtors and creditors, but also society at large by supporting the development of financial markets, entrepreneurial innovation, and economic growth.
Topics: Financial Markets