Most of the research on transaction costs in the market microstructure literature focuses on implicit transaction costs. Research on the design of price schedules for explicit tra...
Most markets compromise the economist’s ideal of matching the marginal benefits to consumers with the marginal cost of supply for incremental purchases because individual buyers...
Recent years have seen extensive investigation of the information aggregation properties of prediction markets. However, relatively little is known about conditions under which a ...
Krishnamurthy Iyer, Ramesh Johari, Ciamac Cyrus Mo...
There is a growing interest in applying market mechanisms to tackle everyday communication problems such as communication interruptions and communication overload. Prior analytic ...
Gary Hsieh, Robert Kraut, Scott E. Hudson, Roberto...
We analyze the performance of single-parameter mechanisms for markets in which there is competition amongst both consumers and suppliers (namely, two-sided markets). Specifically, ...