CRITICAL ISSUES IN THE PRACTICE OF MARKET DESIGN

CRITICAL ISSUES IN THE PRACTICE OF MARKET DESIGN The years since 1994 have witnessed the emergence of market design as a new discipline within economics, in which research and practice exert powerful mutual influences in matching and auction markets. The problem of designing well‐functioning auction markets has led economic designers to revisit such fundamental issues as the definitions of commodities, the ways participants communicate with markets, the trade‐offs between the incentives provided for truthful reporting and other attributes of mechanism performance, and the determinants of the scope of markets, especially whether and how trade in different goods is linked. (JEL D44, C78) http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economic Inquiry Wiley

CRITICAL ISSUES IN THE PRACTICE OF MARKET DESIGN

Economic Inquiry, Volume 49 (2) – Apr 1, 2011

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Publisher
Wiley
Copyright
© 2010 Western Economic Association International
ISSN
0095-2583
eISSN
1465-7295
DOI
10.1111/j.1465-7295.2010.00357.x
Publisher site
See Article on Publisher Site

Abstract

The years since 1994 have witnessed the emergence of market design as a new discipline within economics, in which research and practice exert powerful mutual influences in matching and auction markets. The problem of designing well‐functioning auction markets has led economic designers to revisit such fundamental issues as the definitions of commodities, the ways participants communicate with markets, the trade‐offs between the incentives provided for truthful reporting and other attributes of mechanism performance, and the determinants of the scope of markets, especially whether and how trade in different goods is linked. (JEL D44, C78)

Journal

Economic InquiryWiley

Published: Apr 1, 2011

References

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