Coalition-Proof Trade and the Friedman Rule in the Lagos-Wright Model

The Lagos-Wright model -- a monetary model in which pairwise meetings alternate in time with a centralized meeting -- has been extensively analyzed, but always using particular trading protocols. Here, trading protocols are replaced by two alternative notions of implementability: one that allows only individual defections and one that also allows cooperative defections in meetings. It is shown that the first-best allocation is implementable under the stricter notion with- out taxation if people are sufficiently patient. And, if people are free to skip the centralized meeting, then lump-sum taxation used to pay interest on money does not enlarge the set of implementable allocations.

Memory-Based High-Level Synthesis Optimizations Security Exploration on the Power Side-Channel

High-level synthesis (HLS) allows hardware designers to think algorithmically and not worry about low-level, cycle-by-cycle details. This provides the ability to quickly explore the architectural design space and tradeoffs between resource utilization and performance. Unfortunately, security evaluation is not a standard part of the HLS design flow. In this article, we aim to understand the effects of memory-based HLS optimizations on power side-channel leakage. We use Xilinx Vivado HLS to develop different cryptographic cores, implement them on a Spartan-6 FPGA, and collect power traces. We evaluate the designs with respect to resource utilization, performance, and information leakage through power consumption. We have two important observations and contributions. First, the choice of resource optimization directive results in different levels of side-channel vulnerabilities. Second, the partitioning optimization directive can greatly compromise the hardware cryptographic system through power side-channel leakage due to the deployment of memory control logic. We describe an evaluation procedure for power side-channel leakage and use it to make best-effort recommendations about how to design more secure architectures in the cryptographic domain