Call Market Book Information and Efficiency∗
نویسندگان
چکیده
What are the consequences of making bids and offers in the book available to traders in a call market? This is a problem in market design. We employ a computational mechanism design methodology to attack this problem and find that allocative efficiencies are higher in a closed book design. We validate our computational approach by running a series of tests with human subjects in exactly the same environments. JEL classification: D83, C63, C92, D44
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