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.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1996
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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.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1984
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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.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 2007
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