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The Handbook of Market Design (Paperback)
Loot Price: R2,243
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The Handbook of Market Design (Paperback)
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Economists often look at markets as given, and try to make
predictions about who will do what and what will happen in these
markets. Market design, by contrast, does not take markets as
given; instead, it combines insights from economic and game theory
together with common sense and lessons learned from empirical work
and experimental analysis to aid in the design and implementation
of actual markets In recent years the field has grown dramatically,
partially because of the successful wave of spectrum auctions in
the US and in Europe, which have been designed by a number of
prominent economists, and partially because of the increase use of
the Internet as the platform over which markets are designed and
run There is now a large number of applications and a growing
theoretical literature. The Handbook of Market Design brings
together the latest research from leading experts to provide a
comprehensive description of applied market design over the last
two decades In particular, it surveys matching markets:
environments where there is a need to match large two-sided
populations to one another, such as medical residents and
hospitals, law clerks and judges, or patients and kidney donors It
also examines a number of applications related to electronic
markets, e-commerce, and the effect of the Internet on competition
between exchanges.
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