Darrell Duffie

Darrell Duffie

Institution

Stanford University

PhD Year

1984

Email

duffie@stanford.edu

FTG Membership

Fellow

Website

https://www.gsb.stanford.edu/faculty-research/faculty/darrell-duffie

Featured Work

Mar 8, 2026

Darrell Duffie, Chaojun Wang

Smart Contracting in Network Markets

With complete-information bilateral bargaining in network settings, holdup is eliminated when contracts across the network are agreed atomically (all or none) via a smart contract. Applications include over-the-counter trading, syndicated lending, multi-tranche securitizations, third-party financed purchases, and bookbuilding. Under a novel extensive-form bargaining protocol, any firm can give a “greenlight” to the terms of a contract proposed to that firm, which automatically converts those terms...