منابع مشابه
Evolving Market Design in Zero-Intelligence Trader Markets
The Continuous Double Auction (CDA) is one of the most popular of all auction market-mechanisms in the world. Some of the biggest trade markets in the world including the New York Stock Exchange (NYSE) and the Chicago Mercantile Exchange are organised as CDAs. Previous work using Genetic Algorithms (GAs) for automated mechanism design by Cliff has shown that previously unknown ‘hybrid’ variants...
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Electricity markets in the United States exhibit two different forms of organization: decentralized bilateral trading and centralized auction markets. Using detailed data on prices, quantities, and production costs, we examine how market outcomes changed when a large region in the Eastern US rapidly switched from a bilateral system of trade to a well-designed centralized auction market in 2004....
متن کاملMarket Makers' Recognition of Key Success Factors in Electronic Marketplaces
This study examines the recognition and use of critical success factors by market makers in electronic marketplaces. A content analysis of e-marketplace websites enabled an examination of how these factors have been incorporated into marketplace sites. Evidence of market makers’ awareness of the success factors was found in all the sites although there remain questions and issues to be addresse...
متن کاملMarket Structure in Congestible Markets
This paper analyses market structure of industries that are subject to both positive and negative network effects. The size of a firm determines the quality of its product: when network effects are positive, a larger firm is of higher quality; when the effects are negative, a larger firm’s product is of lower quality. Consumers have heterogenous preferences towards quality (firm size), and firm...
متن کاملMarket power in pollution markets
As with other commodity markets, markets for trading pollution permits have not been immune to market power concerns. In this paper, I survey the existing literature on market power in permit trading but also contribute with some new results and ideas. I start the survey with Hahn’s (1984) dominant-firm-fringe static model that I then extend to the case in which there are two or more strategic ...
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ژورنال
عنوان ژورنال: American Economic Review
سال: 2018
ISSN: 0002-8282
DOI: 10.1257/aer.108.7.1609