Start work on behavioural economics terms
This commit is contained in:
sdiehl
parent
47f964648a
commit
1456d31c33
|
|
@ -1,5 +1,5 @@
|
|||
# Crypto assets do not have a verifiable valuation model
|
||||
Crypto tokens have no reliable [valuation method](../concepts/valuation-model.md). It is not possible to develop a theoretical [value](../concepts/value.md) for a crypto token because there is no demand curve generated by a [use case](../concepts/use-value.md) or any [income or cashflows](../concepts/income-cashflows.md) associated with the [security](../concepts/security.md). Crypto tokens have a strictly zero [fundamental value](../concepts/fundamental-value.md) and a [present-value](../concepts/present-value.md) of zero.
|
||||
Crypto tokens have no reliable [valuation method](../concepts/valuation-model.md). It is not possible to develop a theoretical [value](../concepts/value.md) for a crypto token because there is no demand curve generated by a [use case](../concepts/use-value.md) or any [income or cashflows](../concepts/income-cashflows.md) associated with the [security](../concepts/security.md). Crypto tokens have a strictly zero [fundamental value](../concepts/fundamental-value.md) and a [present value](../concepts/present-value.md) of zero because they have zero income.
|
||||
|
||||
Instead the price of a crypto asset swings about wildly depending on the whims of fluctuating demand, random sentiment and market mania of the larger crypto [bubble](../concepts/bubble.md). Crypto assets are a manifestation of the [greater fool theory](../concepts/greater-fool-theory.md) and the price of a crypto asset is defined simply by what people believe the next "fool" will pay for it.
|
||||
|
||||
|
|
|
|||
|
|
@ -5,7 +5,7 @@ See the [assets](../concepts/assets.md) comparison chart for an overview of how
|
|||
|
||||
Crypto assets are [not currency](is-bitcoin-currency.md) because they cannot fulfil the definition of [money](../concepts/money.md).
|
||||
|
||||
Crypto assets are not [commodities](../concepts/commodity.md) because they have no intrinsic value needed to fulfil any productive economic activity or human need. A hypothetical definition of their [use value](../concepts/use-value.md) depends on a circular logic.
|
||||
Crypto assets are not [commodities](../concepts/commodity.md) because they have no intrinsic value needed to fulfil any productive economic activity or human need. Any hypothetical definition of their [use value](../concepts/use-value.md) depends on circular logic and is thus absurd.
|
||||
|
||||
Crypto assets may also be a form of [art](../concepts/art.md) under the fuzzy definition of "artistic intent".
|
||||
|
||||
|
|
|
|||
|
|
@ -1 +1,5 @@
|
|||
# Endowment Effect
|
||||
# Endowment Effect
|
||||
The endowment effect is a result in behavioral economical that people are more likely to retain an object they own than acquire that same object when they do not own it. It is a cognitive distortion in which the perceived [value](value.md) of an [asset](assets.md) is biased by the act of owning it and ties into the psychological phenomenon of loss aversion. Instead of objectively valuing the [asset](asset.md), independent of their holdings, the individual will overvalue assets they currently hold.
|
||||
|
||||
## References
|
||||
1. Plott, Charles R., and Kathryn Zeiler. "Exchange asymmetries incorrectly interpreted as evidence of endowment effect theory and prospect theory?." American Economic Review 97, no. 4 (2007): 1449-1466.
|
||||
|
|
@ -29,6 +29,7 @@ Understand the terminology used to describe crypto and web3.
|
|||
* [Zero-sum game](../concepts/zero-sum-game.md)
|
||||
* [Memecoins](../concepts/memecoin.md)
|
||||
* [Assets](/concepts/assets.md)
|
||||
* [Intrinsic value](../concepts/use-value.md)
|
||||
* [Store of value](../concepts/store-of-value.md)
|
||||
* [Speculative asset](/concepts/speculation.md)
|
||||
* [Market manipulation](../concepts/market-manipulation.md)
|
||||
|
|
@ -172,6 +173,7 @@ Understand the deeper theoretical concepts behind the technical and economic cla
|
|||
* [Certificate deposit](../concepts/cd.md)
|
||||
* [Dollar](../concepts/dollar.md)
|
||||
* [Commercial paper](../concepts/commercial-paper.md)
|
||||
* [Credit Default Swap](../concepts/cds.md)
|
||||
|
||||
**Technology**
|
||||
|
||||
|
|
@ -210,13 +212,14 @@ Understand the deeper theoretical concepts behind the technical and economic cla
|
|||
**Sociology**
|
||||
|
||||
* [Value](../concepts/value.md)
|
||||
* [Use value](../concepts/use-value.md)
|
||||
* [Sign value](../concepts/sign-value.md)
|
||||
* [Bubbles](../concepts/bubble.md)
|
||||
* ["Madness of crowds"](../concepts/madness-crowds.md)
|
||||
* [Decentralization](../concepts/decentralization.md)
|
||||
* [Recentralization](../concepts/recentralization.md)
|
||||
* [High control groups](../concepts/high-control-group.md)
|
||||
* [Thought terminating cliche](../concepts/thought-terminating-cliches.md)
|
||||
* [Sign value](../concepts/sign-value.md)
|
||||
* [Bandwagon bias](../concepts/bandwagon-bias.md)
|
||||
* [Tinkerbell effect](../concepts/tinkerbell-effect.md)
|
||||
* [Endowment effect](../concepts/endowment-effect.md)
|
||||
|
|
|
|||
|
|
@ -0,0 +1,30 @@
|
|||
# Claims TODO
|
||||
|
||||
- [x] [authoritarianism](../claims/authoritarianism.md)
|
||||
- [ ] [web3-decentralized](../claims/web3-decentralized.md)
|
||||
- [x] [environmental-footprint](../claims/environmental-footprint.md)
|
||||
- [x] [is-bubble](../claims/is-bubble.md)
|
||||
- [ ] [narrative-economics](../concepts/narrative-economics.md)
|
||||
- [x] [digital-gold](../claims/digital-gold.md)
|
||||
- [ ] [new-internet](../claims/new-internet.md)
|
||||
- [ ] [risk-to-state](../claims/risk-to-state.md)
|
||||
- [ ] [systemic-risk](../concepts/systemic-risk.md)
|
||||
- [ ] [threaten-dollar](../claims/threaten-dollar.md)
|
||||
- [x] [valuation-model](../concepts/valuation-model.md)
|
||||
- [x] [what-type-of-asset](../claims/what-type-of-asset.md)
|
||||
- [ ] [hedge-debasement](../claims/hedge-debasement.md)
|
||||
- [ ] [is-better-payments](../claims/is-better-payments.md)
|
||||
- [ ] [is-collapse](../claims/is-collapse.md)
|
||||
- [ ] [is-disrupt-hegemony](../claims/is-disrupt-hegemony.md)
|
||||
- [ ] [is-hyperfinancialization](../claims/is-hyperfinancialization.md)
|
||||
- [ ] [is-legal](../claims/is-legal.md)
|
||||
- [ ] [is-new-financial-system](../claims/is-new-financial-system.md)
|
||||
- [ ] [is-opportunity-cost](../claims/is-opportunity-cost.md)
|
||||
- [ ] [is-private-money](../claims/is-private-money.md)
|
||||
- [ ] [is-public-goods](../claims/is-public-goods.md)
|
||||
- [ ] [is-raise-company](../claims/is-raise-company.md)
|
||||
- [ ] [is-raise-nonprofit](../claims/is-raise-nonprofit.md)
|
||||
- [ ] [new-internet](../claims/new-internet.md)
|
||||
- [ ] [transnational-payment](../claims/transnational-payment.md)
|
||||
- [ ] [web3-decentralized](../claims/web3-decentralized.md)
|
||||
- [ ] [web3-green](../claims/web3-green.md)
|
||||
|
|
@ -63,7 +63,7 @@ Second Pass
|
|||
- [ ] [mlm](../concepts/mlm.md)
|
||||
- [ ] [rtgs](../concepts/rtgs.md)
|
||||
- [ ] [staking](../concepts/staking.md)
|
||||
- [ ] [systemic-risk](../concepts/systemic-risk.md)
|
||||
- [x] [systemic-risk](../concepts/systemic-risk.md)
|
||||
- [ ] [yield-farming](../concepts/yield-farming.md)
|
||||
- [x] [stablecoin](../concepts/stablecoin.md)
|
||||
- [ ] [capital-formation](../concepts/capital-formation.md)
|
||||
|
|
@ -76,21 +76,6 @@ Second Pass
|
|||
- [ ] [endowment-effect](../concepts/endowment-effect.md)
|
||||
- [x] [bandwagon-bias](../concepts/bandwagon-bias.md)
|
||||
|
||||
Claims
|
||||
|
||||
- [ ] [authoritarianism](../claims/authoritarianism.md)
|
||||
- [ ] [web3-decentralized](../claims/web3-decentralized.md)
|
||||
- [x] [environmental-footprint](../claims/environmental-footprint.md)
|
||||
- [x] [is-bubble](../claims/is-bubble.md)
|
||||
- [ ] [narrative-economics](../concepts/narrative-economics.md)
|
||||
- [x] [digital-gold](../claims/digital-gold.md)
|
||||
- [ ] [new-internet](../claims/new-internet.md)
|
||||
- [ ] [risk-to-state](../claims/risk-to-state.md)
|
||||
- [ ] [systemic-risk](../concepts/systemic-risk.md)
|
||||
- [ ] [threaten-dollar](../claims/threaten-dollar.md)
|
||||
- [x] [valuation-model](../concepts/valuation-model.md)
|
||||
- [x] [what-type-of-asset](../claims/what-type-of-asset.md)
|
||||
|
||||
Ideologies
|
||||
|
||||
- [ ] [accelerationism](../concepts/ideologies/accelerationism.md)
|
||||
|
|
|
|||
|
|
@ -6,6 +6,7 @@ This is an open collaborative project. We already have a variety of partners and
|
|||
* Contribute to the [library][], for example by adding articles, papers and research on web3 and background topics.
|
||||
* Write up key concepts and ideas. You can check out our [existing guide][guide] to see which ones could be extended or improved.
|
||||
* See our [concepts-todo](../../meta/concepts-todo.md) task list for open topics.
|
||||
* See our [claims-todo](../../meta/claims-todo.md) task list for open topics.
|
||||
* Proof edit articles and transcribe dialogs. Please [get in touch][contact] to find out more.
|
||||
|
||||
### If you like coding and designing
|
||||
|
|
|
|||
Loading…
Reference in New Issue