With the growth of electronic markets, designing double auction mechanisms that are applicable to emerging market structures has become an important research topic. In this paper, we investigate two truthful double auction design approaches, the Trade Reduction Approach and the Multi-Stage Design Approach, and compare their resulting mechanisms in various exchange environments. We find that com...

The emergence of network retailers and corporate associative structures in some industries, which became the largest buyers or initiators market processes, began to form buyer’s power bargaining buyer that object a broader study confirmed its relevance. realization on part consumer does not always manifest itself system economic interactions as an action violates competition, but often is ident...

We present a theory of entrepreneurial entry and exit decisions. Knowing their own managerial talent, entrepreneurs decide which market to enter, where markets differ in size. We obtain a striking sorting result: each entrant in a large market is more efficient than any entrepreneur in a smaller market. The result obtains since competition is endogenously more intense in larger markets. The sor...