| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5549 |
| DP5549 Industrial Productivity in 51 Countries, Rich and Poor | |
| Daniel Cohen; Orsetta Causa | |
| 发表日期 | 2006-03-12 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | This paper analyses a situation where market designers create new trading platforms and traders learn to select among them. We ask whether 'Walrasian' platforms, leading to market-clearing trading outcomes, will dominate the market in the long run. If several market designers are competing, we find that traders will learn to select non-market clearing platforms with prices systematically above the market-clearing level, provided at least one such platform is introduced by a market designer. This in turn leads all market designers to introduce such non-market clearing platforms. Hence platform competition induces non-competitive market outcomes. |
| 主题 | Industrial Organization |
| 关键词 | Market institutions Evolution of trading platforms Learning Asymmetric rationality |
| URL | https://cepr.org/publications/dp5549 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534394 |
| 推荐引用方式 GB/T 7714 | Daniel Cohen,Orsetta Causa. DP5549 Industrial Productivity in 51 Countries, Rich and Poor. 2006. |
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