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Decentralized Finance Unmasked / 5 Key findings & future prospects
Decentralized Finance Unmasked / 5 Key findings & future prospects
Contents
Chapter
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Page
1–20
Titelei/Inhaltsverzeichnis
1–20
Details
21–36
2 Introduction
21–36
Details
2.1 Interdisciplinarity of law and economics, sociology, psychology and information technology with regard to financial markets
2.2 Sciences vs Humanities – the lost sociology of law in Europe?
2.3 Scope & Research Subject
2.4 Methodology
37–98
3 Current state of research on behavioral economic insights for financial market regulation
37–98
Details
3.1 History of behavioral finance & psychological biases related to finance
3.1.1 Representativeness bias
3.1.2 Familiarity bias
3.1.3 Cognitive dissonance
3.1.4 Endowment effect
3.1.5 Overconfidence bias
3.1.6 Status quo bias
3.1.7 Law of small numbers
3.1.8 Anchoring
3.1.9 Mental accounting
3.1.10 Disposition effect
3.1.11 Attachment bias
3.1.12 Prospect Theory – loss aversion and risk seeking
3.1.13 Social norming
3.1.14 Interim conclusion
3.2 Biases in financial investment behavior
3.2.1 Investor decision making process and consumer biases
3.2.2 Interim conclusion
3.2.3 Behavioral corporate finance and managerial biases
3.2.4 Interim conclusion
3.2.5 Behavioral biases, financial literacy and demographic variables
3.3 The role of bias in financial regulation
3.3.1 How attention and presentation impact information processing and memory retention
3.3.2 The impact of omission bias on decision making, social norms and procyclical behavior
3.3.3 How ideological dimensions may shape financial regulation
3.3.4 Interim conclusion
3.4 Regulatory behavior or behavioral public policy with regard to regulation
3.4.1 Diversification and the value of financial intermediation
3.4.2 Regulation of investors? Balancing investor protection and diversification in regulatory frameworks
3.4.3 Negative implications of the fix-it-fallacy on social policymaking
3.4.4 Exploring the role of regulatory ideologies in shaping economic public policy
3.4.5 Advancing policy instruments research: Addressing key gaps and enhancing public policy outcomes on the crossroads of behavioral finance and neuroscience
3.4.6 Interim conclusion
3.5 Regulation of centralized Finance
3.5.1 Considerations when applying behavioral economic findings in real-world situations and policymaking
3.5.2 Who does banking regulation protect?
3.5.3 Case study 1
3.5.4 Case study 2
3.5.5 Case study 3
3.5.6 Interim conclusions
99–188
4 Application of regulatory mechanisms to decentralized finance
99–188
Details
4.1 Decentralization shams vs real DeFi
4.1.1 Types of blockchains
4.1.2 The decentralization promise of DeFi
4.1.3 DeFi architecture
4.1.4 Decentralization shams and other supervisory challenges
4.1.5 Interim conclusion
4.2 Emerging markets of DeFi & regulatory approaches, MiCAR and DLT pilot regimes
4.2.1 DAOs, the tokenization of assets and rights and the regulatory goals of MiCAR
4.2.1.1 Evolution of the theory of the firm, social economy organizations and decentralized autonomous organizations
4.2.1.2 Public policy goals of MiCAR and classification of crypto assets
4.2.1.3 Interim conclusion
4.2.2 Regulated markets, lateral exchange markets, decentralized exchanges and trust in intermediating technology platforms
4.2.2.1 Traditional regulated markets
4.2.2.2 Trust in intermediating technology platforms
4.2.2.3 Lateral exchange markets in the form of blockchain-based decentralized exchanges (DEX)
4.2.2.4 DLT Pilot Regime
4.2.2.5 Interim conclusion
4.2.3 Crowdfunding Services & emerging markets of DeFi lending
4.2.4 Decentralized derivatives – a growing trend in the DeFi ecosystem
4.2.5 DeFi portfolio management and investment schemes
4.2.6 The role of crypto asset mixers as privacy enhancing protocols and financial intermediaries
4.2.7 DORA – digital operational resilience
4.2.8 Global financial regulation?
4.3 Further behavioral finance and regulatory public policy aspects in the context of DeFi and new developments
4.3.1 Perceived risk and uncertainty in decision research and implications for public policy and behavioral finance
4.3.2 Choice architecture, framing effects, and default options in DeFi policy
4.3.3 Potential for herding and mass contagion in AI-driven investment decisions
4.3.4 The role of behavioral economics in public policy and its challenges
4.4 Interim conclusion
4.4.1 Decentralized organizations, tokenization as well as centralized and decentralized market infrastructures under the EU digital finance package
4.4.2 DeFi lending, derivatives, portfolios and privacy enhancing protocols
4.4.3 Additional EU digital finance packages
4.4.4 Behavioral finance and regulatory public policy implications
189–204
5 Key findings & future prospects
189–204
Details
5.1 Interpretation and classification of the results
5.2 Implications in practice
5.3 Implications in theory and research
5.4 Limitations and future research
5.5 Conclusion
205–227
6 List of sources
205–227
Details
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Decentralized Finance Unmasked , page 189 - 204
5 Key findings & future prospects
Autoren
Josef Bergt
DOI
doi.org/10.5771/9783748943013-189
ISBN print: 978-3-7560-0715-8
ISBN online: 978-3-7489-4301-3
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doi.org/10.5771/9783748943013-189
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