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Market Design: The Policy Uses of Theory

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Author Info
McMillan, John (Stanford U)
Abstract

The use of modern microeconomics in policy is illustrated by the markets for spectrum, electricity, greenhouse-gas reductions, defense procurement, and Treasury bills. Further examples are antitrust divestiture rules, market-based redistribution, fishery conservation, and privatization. The limits of the use of theory are also discussed, by reference to China's economy-wide reforms. Lessons on the policy use of theory are drawn.

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Paper provided by Stanford University, Graduate School of Business in its series Research Papers with number 1781.

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Date of creation: Jan 2003
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Handle: RePEc:ecl:stabus:1781

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  1. Ferraro, Fabrizio & Pfeffer, Jeffrey & Sutton, Robert I., 2003. "Economics language and assumptions: How theories can become self-fulfilling," IESE Research Papers D/530, IESE Business School. [Downloadable!]
  2. Bergès-Sennou, F. & Chambolle, C., 2005. "The reciprocal producers' incentives to prey and the relailers' buying power," Economics Working Paper Archive (Toulouse) 200508, French Institute for Agronomy Research (INRA), Economics Laboratory in Toulouse (ESR Toulouse). [Downloadable!]
  3. James J. Anton Sandro Brusco Giuseppe Lopomo, 2007. "Coordination in Split-Award Auctions with Uncertain Scale Economies: Theory and Data," Department of Economics Working Papers 07-02, Stony Brook University, Department of Economics. [Downloadable!]
  4. Ferraro, Fabrizio & Pfeffer, Jeffrey & Sutton, Robert I., 2003. "Economics Language and Assumptions: How Theories Can Become Self-Fulfilling," Research Papers 1849, Stanford University, Graduate School of Business. [Downloadable!]
  5. Henry, Peter B., 2004. "Perspective Paper on Financial Instability," Research Papers 1866, Stanford University, Graduate School of Business. [Downloadable!]
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This page was last updated on 2009-12-2.

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