Introduction: The Vintage Effect In wine markets, the concept of “vintage” is well understood — the year of harvest fundamentally affects quality and price. In art, the period of creation …
Introduction: The Missing Dimension In classical economics, scarcity is a function of supply and demand. A barrel of oil is scarce because there are only so many barrels underground. A Picasso …
Introduction: A New Category of Good Economics classifies goods along several axes: rivalrous vs. non-rivalrous, excludable vs. non-excludable, durable vs. perishable. Digital goods have traditionally …
Irving Fisher’s 1930 theory of interest posited that all assets carry a time-discount rate (δ) reflecting human impatience. But vintage crypto coins — held across 10+ year horizons — exhibit a …
The Time Value of Money (TVM) — the cornerstone of corporate finance, bond pricing, and insurance — assumes that a dollar today is worth more than a dollar tomorrow. For vintage crypto assets, the …
Time preference theory — the economist’s framework for why people discount the future — finds its purest expression in crypto HODLing. By examining HODL waves, coin days destroyed, and the …