Structure, Clearinghouses and Symmetry
AbstractWe introduce and justify a taxonomy for the structure of markets and minimal institutions which appear in constructing minimally complex trading structures to perform the functions of price formation, settlement and payments. Each structure is presented as a playable strategic market game and is examined for its efficiency, the number of degrees of freedom and the symmetry properties of the structure.
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Bibliographic InfoPaper provided by Yale School of Management in its series Yale School of Management Working Papers with number ysm378.
Date of creation: 28 Jul 2004
Date of revision:
Strategic Market Games; Clearinghouses; Credit Evaluation; Default;
Other versions of this item:
- D40 - Microeconomics - - Market Structure and Pricing - - - General
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-07-18 (All new papers)
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