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Question: Do Bitcoin smart contracts allow to run transaction between parties based on difference between expected value and actual value of some variable?
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Author Topic: Smart Contracts based on Model of Reference Dependent Preferences in Bitcoin  (Read 100 times)
kirmel (OP)
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December 20, 2017, 09:56:07 AM
Last edit: December 21, 2017, 10:20:57 AM by kirmel
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Hello !

I'm studying neuroeconomics and field of my big interest is bounded rational preferences.
In the paper of Botond Koszegi and Mattew Rabin "A MODEL OF REFERENCE-DEPENDENT PREFERENCES" (http://www.personal.ceu.hu/staff/Botond_Koszegi/refdep.pdf) there is a concept of reference point based on economical agents' expectations as to future gain/loss and decision making based on their values. Do Bitcoin smart contracts allow to run transaction between parties based on difference between expected value and actual value of some variable? I understand that expected one I can define as parameter. But I'm just curious is it possible to create some smart contract in Bitcoin that is able to read automatically some values from Web resources etc. ? I know that it's possible in Ethereum smart contracts thorough JS Framework Web 3 for example, but don't know about Bitcoin.
Thanks
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