Marco LiCalzi () (Department of Applied Mathematics, University of Venice) Paolo Pellizzari () (Department of Applied Mathematics, University of Venice)
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We study the performance of four market protocols with regard to their ability to equitably distribute the gains from trade among two groups of participants in an exchange economy. We test the protocols by running (computerized) experiments. Assuming Walrasian tatonemment as benchmark, there is a clear-cut ranking from best to worst: batch auction, nondiscretionary dealership, the hybridization of a dealership and a continuous double auction, and finally the pure continuous double auction.
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Paper provided by Department of Applied Mathematics, University of Venice in its series Working Papers with number
151.
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