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| Author: | Roth, A. E. |
| Title: | What have we learned from market design? |
| Journal: | Economic Journal
2008 : MAR, VOL. 118:527, p. 285-310 |
| Index terms: | econometric models market conditions markets transaction costs |
| Language: | eng |
| Abstract: | This paper explores markets in the light of things learned in the process of designing marketplaces to fix market failures. In order to have a well working marketplace, it has to provide thickness in terms of number of participants and, at the same time, avoid congestion in terms of sufficient amount of alternative transactions. In addition, the participation to the market has to be safe and simple enough compared to transacting outside of the market. The author draws on several concrete examples of market design. |
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