IDEAS home Printed from https://ideas.repec.org/p/wiw/wus051/8141.html
   My bibliography  Save this paper

A Practical Theory Of Fungibility

Author

Listed:
  • Shorish, Jamsheed
  • Stephenson, Matt
  • Zargham, Michael

Abstract

We formalize 'degrees of fungibility' by differentiating goods according to both their underlying attributes and the perceived value and/or usefulness of those attributes to a value assessor. This allows us to distinguish between goods that appear to be 'exactly the same' from those goods that appear to be 'nearly the same'. Such a distinction is of particular importance in the design space of digital goods, which may exist both natively in the digital space and as surrogates, i.e. as digital representations of physical goods. We provide motivating examples where digital objects are too fungible for certain desired uses, and proceed to develop a formal framework under which degrees of fungibility can be defined and characterized. We close by bridging this framework to applications in machine learning and market design.

Suggested Citation

  • Shorish, Jamsheed & Stephenson, Matt & Zargham, Michael, 2021. "A Practical Theory Of Fungibility," Working Paper Series/Institute for Cryptoeconomics/Interdisciplinary Research 8141, WU Vienna University of Economics and Business.
    • Handle: RePEc:wiw:wus051:8141
    as

    Download full text from publisher

    File URL: https://epub.wu.ac.at/8141/
    File Function: original version
    Download Restriction: no
    ---><---

    Other versions of this item:

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wiw:wus051:8141. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: WU Library (email available below). General contact details of provider: https://research.wu.ac.at/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.