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  "text": "No escape hatch restores a positive marginal effect of escrow in the long-match limit: the release-clock wedge is either impossible outright or requires a filing threshold exceeding one, and short cycles are excluded by the limit itself.",
  "author": {
    "@type": "Person",
    "name": "Wulf A. Kaal",
    "identifier": "https://orcid.org/0009-0008-7840-1847"
  },
  "citation": "Wulf A. Kaal, Refundable Stake Does Not Expand Deterrent Capacity in Long-Lived Delegation: Collateral, Premia, and Pseudonymous Markets (2026). SSRN: https://ssrn.com/abstract=7322599",
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    "name": "Refundable Stake Does Not Expand Deterrent Capacity in Long-Lived Delegation: Collateral, Premia, and Pseudonymous Markets",
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  "abstract": "No escape hatch exists on this domain: if dh \u2264 R, with R the filed-thief recovery mixture defined above, the release-clock wedge is impossible outright; if dh > R, the wedge\u2019s filing threshold exceeds one, because \u03c6\u2217 > 1 exactly when q < C F + R, which positive carry guarantees in the limit. Short cycles are excluded by the limit itself.",
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        "the strict long-match limit with positive carry"
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