Digital Economics Conference 2025
Abstract
This presentation explores the trade-off between enforceability and flexibility in smart contracts versus traditional contracts. We analyze when and why smart contracts might be preferable to traditional contracts, considering factors such as enforcement costs, contract flexibility, and adaptation to unforeseen circumstances.
Presenting our research on smart contracts at the Digital Economics Conference. The paper investigates the fundamental trade-off between enforceability and flexibility in smart contracts compared to traditional contracts. We develop a theoretical framework to analyze when smart contracts outperform traditional contracts, considering factors such as:
- Enforcement costs and mechanisms
- Contract flexibility and adaptation
- Transaction costs
- Information asymmetry
This work contributes to the understanding of optimal contract design in the digital age, particularly relevant for blockchain-based smart contracts.
Tong Wang
Senior Lecturer in Business Economics
My research interests include Economics Theory, Crypto-finance and Digital Economics.