{"id":"W4409419463","doi":"10.1016/j.intfin.2026.102302","title":"Is Decentralized Always Better? How Market Structure Affects Trading Costs for Tokenized Assets","year":2025,"lang":"en","type":"preprint","venue":"Journal of International Financial Markets Institutions and Money","topic":"Economic theories and models","field":"Economics, Econometrics and Finance","cited_by":0,"is_retracted":false,"has_abstract":true,"ca_institutions":"Wilfrid Laurier University","funders":"","keywords":"Business; Industrial organization","routes":{"ca_aff":true,"ca_fund":false,"ca_venue":false,"about_ca":false,"invisible_to_affiliation_only":false},"retraction":null,"screen":null,"direct_labels":[],"prediction":{"model_version":"metacan-v3-hybrid-931329e0061c","candidate_categories":[],"consensus_categories":[],"category_scores_codex":[0.002623992,0.0001324979,0.0004252124,0.0004348251,0.0004873043,0.002120925,0.0006582927,0.0007484989,0.006403317],"category_scores_gemma":[0.03390393,0.0001557226,0.0002320945,0.0005223344,0.001024731,0.005372778,0.0008917774,0.0009284026,0.0003349629],"about_ca_system_candidate":false,"about_ca_system_consensus":false,"about_ca_system_score_codex":0.0008334701,"about_ca_system_score_gemma":0.0007721235,"about_ca_topic_candidate":false,"about_ca_topic_consensus":false,"about_ca_topic_score_codex":0.001400155,"about_ca_topic_score_gemma":0.00148177,"domain_scores_codex":[0.9989573,0.0003702788,0.00006437105,0.000172577,0.0002405615,0.0001949331],"domain_scores_gemma":[0.9727091,0.01513548,0.006845092,0.002537165,0.001549941,0.001223216],"domain_codex":null,"domain_gemma":null,"domain_candidate":null,"domain_consensus":null,"study_design_codex":"theoretical_or_conceptual","study_design_gemma":"observational","study_design_scores_codex":[0.002423793,0.001476982,0.2102894,0.0004540417,0.0004008643,0.001083055,0.001740329,0.2713093,0.0297747,0.3124766,0.003994369,0.1645766],"study_design_scores_gemma":[0.0004011166,0.001244374,0.1405821,0.00009530207,0.0002192411,0.0006212366,0.002789202,0.4736672,0.01380876,0.3619884,0.004451115,0.0001320219],"study_design_candidate":"observational","study_design_consensus":null,"genre_codex":"empirical","genre_gemma":"empirical","genre_scores_codex":[0.9893439,0.000122611,0.005668078,0.0005580737,0.000009502351,0.000015686,0.00003392262,0.0000234393,0.004224804],"genre_scores_gemma":[0.9991043,0.00002835328,0.0005790132,0.00001128892,0.000004446147,0.000003552141,0.00001146349,0.000004194371,0.0002532988],"genre_candidate":"empirical","genre_consensus":"empirical","teacher_disagreement_score":0.006403317,"threshold_uncertainty_score":0.02142125,"prediction_status":"machine_predicted_unvalidated"},"machine_scores":{"provisional":true,"baseline":true,"maturity_gate_passed":false,"score_opus":0.03002774192494595,"score_gpt":0.2658360223078965,"score_spread":0.2358082803829505,"validation_status":"score_only:v0-immature-baseline","note":"Baseline scores from an immature model (maturity gate not passed). Scores rank; they never assert a category."}}