DC Field | Value | Language |
---|---|---|
dc.contributor.advisor | Seo, Yongseok | - |
dc.contributor.advisor | 서용석 | - |
dc.contributor.advisor | Park, Sung-Pil | - |
dc.contributor.advisor | 박성필 | - |
dc.contributor.author | Yi, Eojin | - |
dc.date.accessioned | 2022-04-15T01:53:37Z | - |
dc.date.available | 2022-04-15T01:53:37Z | - |
dc.date.issued | 2021 | - |
dc.identifier.uri | http://library.kaist.ac.kr/search/detail/view.do?bibCtrlNo=956418&flag=dissertation | en_US |
dc.identifier.uri | http://hdl.handle.net/10203/294532 | - |
dc.description.abstract | Does the cryptocurrency market evolve? This dissertation focuses on the market properties and relevant policies of cryptocurrency, which has emerged and sparked the attention of academia and policymakers over the last decade. Applying the complex system theory and quantum dynamics, the empirical analysis exhibits a portrait of the cryptocurrency market that shows financial and economic characteristics not far from the other classical assets. The first study suggests that the Bitcoin market is not significantly different in terms of long-run market equilibrium, even though it is less efficient than that of the others. A theoretical explanation is provided by the power law and Laplace distribution function derived from the solution of Fokker-Planck equation. The second study investigates the technological split of blockchain, i.e., the “hard fork” phenomenon, and reveals an asymmetric information flow from Bitcoin to its derivative coin market. The third study finds that the Bitcoin market is close to being efficient, using the quantum harmonic oscillator model. In particular, overlapping eigenfunctions quantized on the Hilbert space simultaneously capture both Gaussian and non-Gaussian states of the Bitcoin market. Lastly, a discussion is also offered about the policy implications and the development of the cryptocurrency market in the future. | - |
dc.language | eng | - |
dc.title | Essays on cryptocurrency in the theory of econophysics: outlook and perspectives | - |
dc.title.alternative | 경제물리이론 기반 암호화폐시장의 미래 연구 | - |
dc.identifier.CNRN | 325007 | - |
dc.description.department | 한국과학기술원 :문술미래전략대학원, | - |
dc.description.isOpenAccess | 학위논문(박사) - 한국과학기술원 : 문술미래전략대학원, 2021.2,[iv, 83 p. :] | - |
dc.publisher.country | 한국과학기술원 | - |
dc.type.journalArticle | Thesis(Ph.D) | - |
dc.contributor.alternativeauthor | 이어진 | - |
dc.subject.keywordAuthor | Bitcoin▼aEfficient market hypothesis▼aMarket equilibrium▼aEntropy▼aInformation flow | - |
dc.subject.keywordAuthor | 비트코인▼a시장효율성가설▼a시장평형▼a엔트로피▼a정보흐름 | - |
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