SFS Cavalcade North America 2026
Darden Graduate School of Business Administration, University of Virginia
May 18-21, 2026
Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 18th Apr 2026, 05:19:24am EDT
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Agenda Overview |
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Track TH3-5: Market Microstructure
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Smart Contracting in Network Markets 1Stanford Graduate School of Business; 2The Wharton School, University of Pennsylvania For bilateral bargaining under complete information in network markets, we show that holdup is eliminated when contracts are atomically settled with smart contracts. Applications include over-the-counter trading networks, purchases requiring third-party financing, and other multi-agent markets in which pairs of agents bargain bilaterally over terms that could potentially affect their outside-option values in negotiations with other firms. Under this protocol, the terms of a contract proposed to any firm can be given a “greenlight” by that firm, which automatically converts those terms into a binding contract if and only if the terms proposed to all other firms are also assigned greenlights and thus likewise converted to contracts. We analyze tree-based networks, including hub-spoke and chain networks. Under mild technical conditions, the unique outcome of any Perfect Bayesian Equilibrium is immediate agreement on socially efficient contracts that generate equal expected gains for every firm.
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