Avoidable cost: ride a double auction roller coaster

Article Abstract:

The double auction (DA) trading institution is considered the most optimal laboratory trading institution that is closest to approximating naturally occurring market institutions. The DA's optimal efficiency had led analysts to consider it as a superior performer across various market structures and strategy. However, 'avoidable cost' supply structures have been found to affect human subject DA stability and efficiency, particularly in cases where highly competitive institutions are present.

Financial institutions, Auctions

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On the Efficiency of Experimental Double Auction Market

Article Abstract:

The efficiency of agents in the double auction market is examined. Price seizure provides other agents with information, but limits the agents' influence on prices. Outcomes are generally pareto efficient.

Industrial efficiency, Economic efficiency

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Internet advertising and the generalized second-price auction: selling billions of dollars worth of keywords

Article Abstract:

The mechanism of Internet advertising and online auctions is investigated, focusing on the properties and profitability of generalized second-price (GSP) auctions.

United States, Evaluation, Economic aspects, Information services, Electronic commerce, E-commerce, Internet/Web advertising, Internet advertising, Yahoo! Inc., Information services industry, YHOO, Online auctions, Google Inc., Online auction

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