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The rate at which a simple market converges to efficiency as the number of traders increases: An asymptotic result for optimal trading mechanisms
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Cited by:
- Shneyerov, Artyom & Wong, Adam Chi Leung, 2010.
"Bilateral matching and bargaining with private information,"
Games and Economic Behavior, Elsevier, vol. 68(2), pages 748-762, March.
- Adam Wong & Artyom Shneyerov, 2007. "Bilateral Matching and Bargaining with Private Information," 2007 Meeting Papers 1032, Society for Economic Dynamics.
- Shneyerov, Art & Wong, Adam Chi Leung, 2007. "Bilateral Matching and Bargaining with Private Information," Microeconomics.ca working papers shneyerov-07-05-01-03-38-, Vancouver School of Economics, revised 01 May 2007.
- Goldlücke, Susanne & Schmitz, Patrick W., 2018.
"Pollution claim settlements reconsidered: Hidden information and bounded payments,"
European Economic Review, Elsevier, vol. 110(C), pages 211-222.
- Schmitz, Patrick W. & Goldlücke, Susanne, 2016. "Pollution Claim Settlements Reconsidered: Hidden Information and Bounded Payments," CEPR Discussion Papers 11217, C.E.P.R. Discussion Papers.
- Goldlücke, Susanne & Schmitz, Patrick W., 2018. "Pollution Claim Settlements Reconsidered: Hidden Information and Bounded Payments," MPRA Paper 90800, University Library of Munich, Germany.
- Romans Pancs, 2024. "A vaccine auction," Review of Economic Design, Springer;Society for Economic Design, vol. 28(4), pages 763-780, December.
- Glenn Ellison & Drew Fudenberg & Markus Möbius, 2004.
"Competing Auctions,"
Journal of the European Economic Association, MIT Press, vol. 2(1), pages 30-66, March.
- Glenn Allison & Drew Fudenberg, 2002. "Competing Auctions," Harvard Institute of Economic Research Working Papers 1960, Harvard - Institute of Economic Research.
- Ellison, Glenn & Fudenberg, Drew & Mobius, Markus, 2010. "Competing Auctions," Staff General Research Papers Archive 32106, Iowa State University, Department of Economics.
- Glenn Ellison & Drew Fudenberg & Markus Mobius, 2010. "Competing Auctions," Levine's Working Paper Archive 506439000000000092, David K. Levine.
- Ellison, Glenn & Mobius, Markus & Fudenberg, Drew, 2004. "Competing Auctions," Scholarly Articles 3043414, Harvard University Department of Economics.
- Roberto Burguet, 2000.
"Auction theory: a guided tour,"
Investigaciones Economicas, Fundación SEPI, vol. 24(1), pages 3-50, January.
- Burguet, R., 1998. "Auction Theory: a Guided Tour," UFAE and IAE Working Papers 422.98, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Serrano, Roberto, 2002.
"Decentralized information and the Walrasian outcome: a pairwise meetings market with private values,"
Journal of Mathematical Economics, Elsevier, vol. 38(1-2), pages 65-89, September.
- Serrano, R. & Yosha, O., 1995. "Decentralized Information and the Walrasian Outcome : A Pairwise Meetings Market with Private Values," Papers 26-95, Tel Aviv.
- Roberto Serrano, 2000. "Decentralized Information and the Walrasian Outcome:A Pairwise Meetings Market with Private Values," Working Papers 2000-13, Brown University, Department of Economics.
- Chwe, Michael Suk-Young, 1999. "The Reeded Edge and the Phillips Curve: Money Neutrality, Common Knowledge, and Subjective Beliefs," Journal of Economic Theory, Elsevier, vol. 87(1), pages 49-71, July.
- Hu Lu & Jacques Robert, 2000. "Optimal Trading Mechanisms with Ex Ante Unidentified Traders," Econometric Society World Congress 2000 Contributed Papers 1612, Econometric Society.
- Lu, Hu & Wang, Yuntong, 2010. "Efficient trading with nonlinear utility," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 595-606, July.
- Simon Loertscher & Leslie M. Marx, 2022. "To sell public or private goods," Review of Economic Design, Springer;Society for Economic Design, vol. 26(3), pages 385-415, September.
- Loertscher, Simon & Mezzetti, Claudio, 2021.
"A dominant strategy, double clock auction with estimation-based tatonnement,"
Theoretical Economics, Econometric Society, vol. 16(3), July.
- Loertscher, Simon & Mezzetti, Claudio, 2020. "A Dominant Strategy, Double Clock Auction with Estimation-Based Tatonnement," The Warwick Economics Research Paper Series (TWERPS) 1249, University of Warwick, Department of Economics.
- Ornelas, Emanuel & Turner, John L., 2007.
"Efficient dissolution of partnerships and the structure of control,"
Games and Economic Behavior, Elsevier, vol. 60(1), pages 187-199, July.
- John L. Turner & Emanuel Ornelas, 2004. "Efficient Dissolution of Partnerships and the Structure of Control," Econometric Society 2004 North American Summer Meetings 286, Econometric Society.
- Yoon, Kiho, 2001. "The Modified Vickrey Double Auction," Journal of Economic Theory, Elsevier, vol. 101(2), pages 572-584, December.
- Renato Gomes & Alessandro Pavan, 2011. "Price Discrimination in Many-to-Many Matching Markets," Discussion Papers 1540, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Sönke Hoffmann & Benedikt Mihm & Joachim Weimann, 2014. "To Commit or not to Commit? An Experimental Investigation of Pre-Commitments in Bargaining Situations with Asymmetric Information," CESifo Working Paper Series 4835, CESifo.
- Simon Loertscher & Leslie M. Marx, 2021. "Coordinated Effects in Merger Review," Journal of Law and Economics, University of Chicago Press, vol. 64(4), pages 705-744.
- Kolmar, Martin & Meier, Volker, 2012.
"Intragenerational externalities and intergenerational transfers,"
Journal of Pension Economics and Finance, Cambridge University Press, vol. 11(4), pages 531-548, October.
- Martin Kolmar & Volker Meier, 2005. "Intra-Generational Externalities and Inter-Generational Transfers," CESifo Working Paper Series 1437, CESifo.
- Kolmar, Martin & Meier, Volker, 2012. "Intragenerational externalities and intergenerational transfers," Munich Reprints in Economics 19480, University of Munich, Department of Economics.
- Delacrétaz, David & Loertscher, Simon & Marx, Leslie M. & Wilkening, Tom, 2019. "Two-sided allocation problems, decomposability, and the impossibility of efficient trade," Journal of Economic Theory, Elsevier, vol. 179(C), pages 416-454.
- Bichler, Martin & Kohring, Nils & Oberlechner, Matthias & Pieroth, Fabian R., 2023. "Learning equilibrium in bilateral bargaining games," European Journal of Operational Research, Elsevier, vol. 311(2), pages 660-678.
- Tunay I. Tunca, 2004. "Information Precision and Asymptotic Efficiency of Industrial Markets," Working Papers 04-11, NET Institute, revised Oct 2004.
- Zacharias, Eleftherios & Williams, Steven R., 2001. "Ex Post Efficiency in the Buyer's Bid Double Auction When Demand Can Be Arbitrarily Larger Than Supply," Journal of Economic Theory, Elsevier, vol. 97(1), pages 175-190, March.
- Sarkar, Soumendu, 2018. "Convergence of VCG mechanism to ex-post budget balance in a model of land acquisition," Mathematical Social Sciences, Elsevier, vol. 93(C), pages 37-46.
- Loertscher, Simon & Wasser, Cédric, 2019.
"Optimal structure and dissolution of partnerships,"
Theoretical Economics, Econometric Society, vol. 14(3), July.
- Wasser, Cédric & Loertscher, Simon, 2015. "Optimal Structure and Dissolution of Partnerships," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113112, Verein für Socialpolitik / German Economic Association.
- Ilya Segal & Michael D.Whinston, 2012. "Property Rights [The Handbook of Organizational Economics]," Introductory Chapters,, Princeton University Press.
- Muthoo, Abhinay & Mutuswami, Suresh, 2005. "Competition and Efficiency in Markets with Quality Uncertainty," Economics Discussion Papers 9981, University of Essex, Department of Economics.
- Michael Peters & Sergei Severinov, 2008.
"An ascending double auction,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 37(2), pages 281-306, November.
- Peters, Michael & Severinov, Sergei, 2003. "An Ascending Double Auction," Microeconomics.ca working papers peters-03-12-16-01-57-39, Vancouver School of Economics, revised 26 Feb 2005.
- Bin-Tzong Chie & Chih-Hwa Yang, 2021. "Efficiency of the Experimental Prediction Market: Public Information, Belief Evolution, and Personality Traits," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 11(4), pages 1-3.
- Simon Loertscher & Andras Niedermayer, 2012.
"Fee-Setting Mechanisms: On Optimal Pricing by Intermediaries and Indirect Taxation,"
Department of Economics - Working Papers Series
1162, The University of Melbourne.
- Loertscher, Simon & Niedermayer, Andras, 2014. "Fee-Setting Mechanisms: On Optimal Pricing by Intermediaries and Indirect Taxation," Working Papers 14-03, University of Mannheim, Department of Economics.
- Loertscher, Simon & Niedermayer, Andras, 2012. "Fee-Setting Mechanisms: On Optimal Pricing by Intermediaries and Indirect Taxation," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 434, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Satterthwaite, Mark A. & Williams, Steven R. & Zachariadis, Konstantinos E., 2014. "Optimality versus practicality in market design: A comparison of two double auctions," Games and Economic Behavior, Elsevier, vol. 86(C), pages 248-263.
- Shneyerov, Art & Wong, Adam Chi Leung, 2007. "The Rate of Convergence to Perfect Competition of a Simple Matching and Bargaining Mechanism," Microeconomics.ca working papers shneyerov-07-05-01-03-43-, Vancouver School of Economics, revised 01 May 2007.
- Damian Damianov, 2012.
"Seller competition by mechanism design,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(1), pages 105-137, September.
- Damianov, Damian, 2008. "Seller Competition by Mechanism Design," MPRA Paper 9348, University Library of Munich, Germany.
- Abhinay Muthoo & Suresh Mutuswami, 2011.
"Imperfect Competition and Efficiency in Lemons Markets,"
Economic Journal, Royal Economic Society, vol. 121(552), pages 580-594, May.
- Muthoo, Abhinay & Mutuswami, Suresh, 2007. "Imperfect Competition and Efficiency in Lemons Markets," Economics Discussion Papers 8911, University of Essex, Department of Economics.
- Muthoo, Abhinay & Mutuswami, Suresh, 2010. "Imperfect Competition and Efficiency in Lemons Markets," Economic Research Papers 270999, University of Warwick - Department of Economics.
- Muthoo, Abhinay & Mutuswami, Suresh, 2010. "Imperfect Competition and Efficiency in Lemons Markets," The Warwick Economics Research Paper Series (TWERPS) 939, University of Warwick, Department of Economics.
- Liu, Liqun & Rettenmaier, Andrew J. & Saving, Thomas R., 2015. "Voluntary disclosure of a discriminated against characteristic," Journal of Economic Behavior & Organization, Elsevier, vol. 120(C), pages 94-103.
- DE FEO, Giuseppe & HINDRIKS, Jean, 2005.
"Efficiency of competition in insurance markets with adverse selection,"
LIDAM Discussion Papers CORE
2005054, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Giuseppe, DE FEO & Jean, HINDRIKS, 2005. "Efficiency of Competition in Insurance Markets with Adverse Selection," Discussion Papers (ECON - Département des Sciences Economiques) 2005042, Université catholique de Louvain, Département des Sciences Economiques.
- Dimitri Vayanos, 1999.
"Strategic Trading and Welfare in a Dynamic Market,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(2), pages 219-254.
- Vayanos, Dimitri, 1999. "Strategic trading and welfare in a dynamic market," LSE Research Online Documents on Economics 449, London School of Economics and Political Science, LSE Library.
- Giuseppe Attanasi & Samuele Centorrino & Elena Manzoni, 2020.
"Zero-Intelligence vs. Human Agents: An Experimental Analysis of the Efficiency of Double Auctions and Over-the-Counter Markets of Varying Sizes,"
Working Papers
05/2020, University of Verona, Department of Economics.
- Giuseppe Attanasi & Samuele Centorrino & Elena Manzoni, 2020. "Zero-Intelligence vs. Human Agents: An Experimental Analysis of the Efficiency of Double Auctions and Over-the-Counter Markets of Varying Sizes," Department of Economics Working Papers 20-04, Stony Brook University, Department of Economics.
- Giuseppe Attanasi & Samuele Centorrino & Elena Manzoni, 2020. "Zero-Intelligence vs. Human Agents: An Experimental Analysis of the Efficiency of Double Auctions and Over-the-Counter Markets of Varying Sizes," GREDEG Working Papers 2020-10, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
- Eric S. Chou & Meng-Yu Liang & Cheng-Tai Wu, 2022. "Reorganizing a partnership efficiently," Review of Economic Design, Springer;Society for Economic Design, vol. 26(2), pages 233-246, June.
- Chen, Yan & Jiang, Ming & Kesten, Onur & Robin, Stéphane & Zhu, Min, 2018.
"Matching in the large: An experimental study,"
Games and Economic Behavior, Elsevier, vol. 110(C), pages 295-317.
- Yan Chen & Ming Jiang & Onur Kesten & Stéphane Robin & Min Zhu, 2017. "Matching in the Large: An Experimental Study," Working Papers 1702, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
- Yan Chen & Min Jiang & Onur Kesten & Stéphane Robin & Min Zhu, 2018. "Matching in the large: An experimental study," Post-Print hal-01823548, HAL.
- Yan Chen & Ming Jiang & Onur Kesten & Stéphane Robin & Min Zhu, 2017. "Matching in the Large: An Experimental Study," Working Papers halshs-01432941, HAL.
- Simon Loertscher & Leslie M. Marx, 2022. "Incomplete Information Bargaining with Applications to Mergers, Investment, and Vertical Integration," American Economic Review, American Economic Association, vol. 112(2), pages 616-649, February.
- Soumendu Sarkar, 2022. "Strategyproof and Budget Balanced Mechanisms for Assembly," Working papers 320, Centre for Development Economics, Delhi School of Economics.
- Soumendu Sarkar, 2022. "Optimal mechanism for land acquisition," Review of Economic Design, Springer;Society for Economic Design, vol. 26(1), pages 87-116, March.
- Mark A. Satterthwaite & Steven R. Williams, 1991. "The Double Auction Market: Institutions," Discussion Papers 971, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Ledyard, John O. & Szakaly-Moore, Kristin, 1994.
"Designing organizations for trading pollution rights,"
Journal of Economic Behavior & Organization, Elsevier, vol. 25(2), pages 167-196, October.
- Ledyard, John O. & Szakaly, Kristin E., "undated". "Designing Organizations for Trading Pollution Rights," Working Papers 838, California Institute of Technology, Division of the Humanities and Social Sciences.
- John Ledyard & Kristin Szakaly-Moore, 1993. "Designing Organizations for Trading Pollution Rights," Experimental 9307001, University Library of Munich, Germany, revised 28 Jul 1993.
- Peters, Michael & Severinov, Sergei, 2006.
"Internet auctions with many traders,"
Journal of Economic Theory, Elsevier, vol. 130(1), pages 220-245, September.
- Michael Peters & Sergei Severinov, 2001. "Internet Auctions with Many Traders," Working Papers peters-01-01, University of Toronto, Department of Economics.
- Peters,M. & Severinov,S., 2001. "Internet auctions with many traders," Working papers 11, Wisconsin Madison - Social Systems.
- Peters, Michael & Severinov, Sergei, 2005. "Internet Auctions with Many Traders," Microeconomics.ca working papers peters-05-03-30-03-06-03, Vancouver School of Economics, revised 23 Jan 2006.
- Shneyerov, Artyom & Wong, Adam Chi Leung, 2010.
"The rate of convergence to perfect competition of matching and bargaining mechanisms,"
Journal of Economic Theory, Elsevier, vol. 145(3), pages 1164-1187, May.
- Artyom Shneyerov & Adam Chi Leung Won, 2008. "The Rate of Convergence to Perfect Competition of Matching and Bargaining Mechanisms," Discussion Papers 1467, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Boerner, Lars, 2016. "Medieval market making brokerage regulations in Central Western Europe, ca. 1250-1700," Economic History Working Papers 66834, London School of Economics and Political Science, Department of Economic History.
- Loertscher, Simon & Marx, Leslie M., 2023. "Asymptotically optimal prior-free asset market mechanisms," Games and Economic Behavior, Elsevier, vol. 137(C), pages 68-90.
- Loertscher, Simon & Muir, Ellen V. & Taylor, Peter G., 2022. "Optimal market thickness," Journal of Economic Theory, Elsevier, vol. 200(C).
- Roberto Serrano, 2007. "Bargaining," Working Papers 2007-06, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
- Hoffmann, Sönke & Mihm, Benedikt & Weimann, Joachim, 2015. "To commit or not to commit? An experimental investigation of pre-commitments in bargaining situations with asymmetric information," Journal of Public Economics, Elsevier, vol. 121(C), pages 95-105.
- Art Shneyerov, 2006. "Dynamic Matching with Two-sided Incomplete Information and Participation Costs," Theory workshop papers 815595000000000009, UCLA Department of Economics.
- Baliga Sandeep & Vohra Rakesh, 2003.
"Market Research and Market Design,"
The B.E. Journal of Theoretical Economics, De Gruyter, vol. 3(1), pages 1-27, August.
- Sandeep Baliga & Rakesh Vohra, 2010. "Market Research and Market Design," Levine's Working Paper Archive 506439000000000336, David K. Levine.
- Fuhito Kojima & Parag A. Pathak, 2009. "Incentives and Stability in Large Two-Sided Matching Markets," American Economic Review, American Economic Association, vol. 99(3), pages 608-627, June.
- Loertscher, Simon & Marx, Leslie M., 2020. "Asymptotically optimal prior-free clock auctions," Journal of Economic Theory, Elsevier, vol. 187(C).
- Tymon Tatur, 2000. "Asymptotically Optimal Market Mechanisms," Discussion Papers 1315, Northwestern University, Center for Mathematical Studies in Economics and Management Science, revised Jan 2001.
- Widmer, Tobias & Leukel, Joerg, 2016. "Efficiency of electronic service allocation with privately known quality," European Journal of Operational Research, Elsevier, vol. 255(3), pages 856-868.
- Yoon, Kiho, 2008. "The participatory Vickrey-Clarke-Groves mechanism," Journal of Mathematical Economics, Elsevier, vol. 44(3-4), pages 324-336, February.
- Satterthwaite, Mark A. & Williams, Steven R. & Zachariadis, Konstantinos E., 2022. "Price discovery using a double auction," Games and Economic Behavior, Elsevier, vol. 131(C), pages 57-83.
- Robert Gibbons & John Roberts, 2012. "The Handbook of Organizational Economics," Economics Books, Princeton University Press, edition 1, volume 1, number 9889.
- Schmitz, Patrick W. & Sliwka, Dirk, 1998. "Die Bedeutung von privater Information für Vertragsbeziehungen zwischen Käufern und Verkäufern," MPRA Paper 6941, University Library of Munich, Germany.
- Tunca, Tunay I., 2008. "Information precision and asymptotic efficiency of industrial markets," Journal of Mathematical Economics, Elsevier, vol. 44(9-10), pages 964-996, September.
- Tobias Widmer & Paul Karaenke & Vijayan Sugumaran, 2021. "Two‐sided service markets: Effects of quality differentiation on market efficiency," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(3), pages 588-604, April.
- Martin W. Cripps & Jeroen M. Swinkels, 2006.
"Efficiency of Large Double Auctions,"
Econometrica, Econometric Society, vol. 74(1), pages 47-92, January.
- Martin W Cripps & Jeroen M Swinkels, 2003. "Efficiency of Large Double Auctions," Levine's Working Paper Archive 666156000000000329, David K. Levine.
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- Lu, Hu & Robert, Jacques, 2001. "Optimal Trading Mechanisms with Ex Ante Unidentified Traders," Journal of Economic Theory, Elsevier, vol. 97(1), pages 50-80, March.
- Song, Yangwei, 2022. "Approximate Bayesian Implementation and Exact Maxmin Implementation: An Equivalence," Rationality and Competition Discussion Paper Series 362, CRC TRR 190 Rationality and Competition.
- Al-Najjar, Nabil I. & Smorodinsky, Rann, 2007. "The efficiency of competitive mechanisms under private information," Journal of Economic Theory, Elsevier, vol. 137(1), pages 383-403, November.