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An experimental analysis of multi-attribute auctions
2000
Decision Support Systems
In this approach, we combine decision analysis techniques and single-sided auction mechanisms in order to procure goods and services. ...
The efficiency was similar in single-attribute and multi-attribute auctions, and we did not find evidence for revenue equivalence between the multi-attribute auction formats. q ...
Oral or open-cry auctions reveal price quotes and require public and adjustable bids. After a certain time elapse the auction clears, meaning it matches buyers and sellers and determines the price. ...
doi:10.1016/s0167-9236(00)00075-0
fatcat:hxdahacxzffoblhr6te6wghczm
Seller Reputation
2008
Foundations and Trends in Microeconomics
As a consequence, the seller will be mindful of building and maintaining a good reputation through the information that buyers have about the seller, including previous transactions and the reports of ...
Seller reputation is an important asset because buyers often choose sellers on the basis of their reputation. ...
Acknowledgments We thank Adam Brandenburger, Luis Cabral, Theodosios Dimopoulos, Joe Harrington, Martin Peitz, and Giancarlo Spagnolo for their comments and discussions. ...
doi:10.1561/0700000027
fatcat:xp4yjqq2ava6dftb7tt6occpla
Resource Distribution Approaches in Spectrum Sharing Systems
2008
EURASIP Journal on Wireless Communications and Networking
Thus, a hybrid of centralized and decentralized approach that exploits the benefits of both is also considered. ...
Whereas, negotiation costs for spectrum brokerage appear in the centralized approach, nonnegligible amounts of spectrum are lost in the decentralized approach due to collisions. ...
ACKNOWLEDGMENT The authors wish to thank the anonymous reviewers for their helpful comments. Their suggestions have significantly improved the quality of the paper. ...
doi:10.1155/2008/598080
fatcat:4bp7te6ie5bcpfxncaagv4q554
An Investigation Report on Auction Mechanism Design
[article]
2009
arXiv
pre-print
Auctions also provide a very valuable testing-ground for economic theory, and they play an important role in computer-based control systems. ...
Since well designed auctions achieve desirable economic outcomes, they have been widely used in solving real-world optimization problems, and in structuring stock or futures exchanges. ...
He proposed a strategy for buyers and sellers in which a trader waits for a while before making bids or asks. ...
arXiv:0904.1258v2
fatcat:pf3crtvfl5cnpecmn3f5tirv7i
Methodologies for the design of negotiation protocols on E-markets
2001
Computer Networks
Markets play a central role in the economy, facilitating the exchange of information, goods, services, and payments. ...
In this paper we survey the key techniques for the design of negotiation protocols and describe the main steps in the design of a multi-attribute auction protocol for a ®nancial market. ...
Like stock exchanges, these electronic markets must set up mechanisms for clearing transactions and for making sure that both buyers and sellers are satis®ed. ...
doi:10.1016/s1389-1286(01)00212-2
fatcat:lhshdrmwnrb7tdy566fndenn5a
The choice of direct dealing or electronic brokerage in foreign exchange trading
2013
Borsa Istanbul Review
We provide analysis to further our understanding of the choice of trading venue in foreign exchange. Theory suggests that the choice of trading venue will differ for "large" and "small" traders. ...
This result is consistent with traders clustering in time to submit orders so as to increase the probability of finding a match. ...
Acknowledgment We have benefited from the helpful suggestions of John Carlson, Hector Chade, Joachim Grammig, and Richard Lyons. ...
doi:10.1016/j.bir.2013.10.005
fatcat:otn2lleylzbf3a574h3c7sb7la
Mobile Data Trading: Behavioral Economics Analysis and Algorithm Design
[article]
2017
arXiv
pre-print
We introduce a brokerage-based market, where sellers and buyers propose their selling and buying quantities, respectively, to the trading platform that matches the market supply and demand. ...
It is shown in our simulation that the risk preferences have a significant impact on the user's decision and outcome: a risk-averse dominant user can guarantee a higher minimum profit in the trading, while ...
and quantities of other sellers and buyers. ...
arXiv:1702.02722v1
fatcat:aevgcj66i5b6jd2uc2kd3ds2wi
Distress Selling and Asset Market Feedback
2007
Social Science Research Network
The paper also considers what policy options are available at each stage to mitigate the adverse economic consequences of distress selling and asset market feedback. ...
It splits this process into several stages, in order to analyse what triggers distress selling, why asset prices fall, and how falling prices generate additional rounds of selling. ...
We treat sellers and buyers as separate groups of agents and deal with them in di¤erent sections, even though distress sellers bought assets in t = 0 for the same motives as those outlined here for buyers ...
doi:10.2139/ssrn.1013988
fatcat:wxr72kvnxzekjptwip72dved5m
Distress Selling and Asset Market Feedback
2007
Financial Markets, Institutions & Instruments
The paper also considers what policy options are available at each stage to mitigate the adverse economic consequences of distress selling and asset market feedback. ...
It splits this process into several stages, in order to analyse what triggers distress selling, why asset prices fall, and how falling prices generate additional rounds of selling. ...
We treat sellers and buyers as separate groups of agents and deal with them in di¤erent sections, even though distress sellers bought assets in t = 0 for the same motives as those outlined here for buyers ...
doi:10.1111/j.1468-0416.2007.00126.x
fatcat:wy2txopofff7vf4e6exzsiqs3m
No-Trade in the Laboratory
2011
The B.E. Journal of Theoretical Economics
Subjects receive clues on the asset value and then set a bid and an ask at which they are willing to buy or to sell from the other participants. ...
We test the no-trade theorem in a laboratory financial market where subjects can trade an asset whose value is unknown. ...
a buyer and a seller. ...
doi:10.2202/1935-1704.1745
fatcat:2rdouuxd3zcuhmu2pv7mdjqsuy
Financial Armageddon Routs Law Again
2013
Social Science Research Network
For many real goods, the buyer has no interest in the identity or personal attributes of the seller or the producer. ...
Let's consider each of these in turn.
A. Variety of Goods and Markets In markets for real goods, the variety of types of goods is so large as to be nearly infinite. ...
doi:10.2139/ssrn.2308382
fatcat:bzw4b2fd4vcpdanzec3rknoddu
Trading in Networks: Theory and Experiments
2017
Journal of the European Economic Association
We propose a model of posted prices in networks. ...
The model maps traditional concepts of market power, competition and double marginalization into networks, allowing for the study of pricing in complex structures of intermediation such as supply chains ...
#Cr denotes the number of critical intermediaries, #Paths denotes the number of paths connecting buyer and seller, d(q) denotes the length of path q beween buyer and seller. ...
doi:10.1093/jeea/jvw016
fatcat:xhcmxz6fnzdu7pligath5nqb3q
The Design of Innovative Securities Markets: The Case of Asymmetric Information*
[chapter]
2001
e-Finance
A DMM is a multiplatform market structure that enables an investor to specify -individually and for each transaction separately -the desired market model within one marketplace. ...
Second, the case of asymmetrically informed participants using innovative market mechanisms is studied. ...
A good example for this trend is the emergence of online-brokerage. ...
doi:10.1007/978-3-642-59504-2_11
fatcat:fujkrpsrfjdrdnark3y7gc7uii
Foreign Exchange Market Structure, Players, and Evolution
[chapter]
2012
Handbook of Exchange Rates
This formerly opaque market is now fairly transparent and transaction costs are only a fraction of their former level. ...
Views and conclusions expressed in working papers are the responsibility of the authors alone. ...
After Z buys AUD from, say, HSBC, Bank of America becomes the seller of AUD to Z and the buyer of AUD from HSBC.For the large banks, prime brokerage arrangements generate new, fee-based revenue that leverages ...
doi:10.1002/9781118445785.ch1
fatcat:frt6dliztfaidenupgbhzlcqxe
Foreign Exchange Market Structure, Players and Evolution
2011
Social Science Research Network
This formerly opaque market is now fairly transparent and transaction costs are only a fraction of their former level. ...
Views and conclusions expressed in working papers are the responsibility of the authors alone. ...
After Z buys AUD from, say, HSBC, Bank of America becomes the seller of AUD to Z and the buyer of AUD from HSBC.For the large banks, prime brokerage arrangements generate new, fee-based revenue that leverages ...
doi:10.2139/ssrn.1935858
fatcat:xezagxqnsfgyzkeotgsnnmzhmu
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