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Modularity and greed in double auctions

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  • Dütting, Paul
  • Talgam-Cohen, Inbal
  • Roughgarden, Tim

Abstract

Designing double auctions is a complex problem, especially when there are restrictions on the sets of buyers and sellers that may trade with one another. The goal of this paper is to develop a modular approach to the design of double auctions, by relating it to the exhaustively-studied problem of designing one-sided mechanisms with a single seller (or, alternatively, a single buyer).

Suggested Citation

  • Dütting, Paul & Talgam-Cohen, Inbal & Roughgarden, Tim, 2017. "Modularity and greed in double auctions," Games and Economic Behavior, Elsevier, vol. 105(C), pages 59-83.
  • Handle: RePEc:eee:gamebe:v:105:y:2017:i:c:p:59-83
    DOI: 10.1016/j.geb.2017.06.008
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    References listed on IDEAS

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    Cited by:

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    2. Loertscher, Simon & Mezzetti, Claudio, 2021. "A dominant strategy, double clock auction with estimation-based tatonnement," Theoretical Economics, Econometric Society, vol. 16(3), July.
    3. Xu, Hedong & Tian, Cunzhi & Xiao, Xinrong & Fan, Suohai, 2018. "Evolutionary investors’ power-based game on networks," Applied Mathematics and Computation, Elsevier, vol. 330(C), pages 125-133.
    4. Loertscher, Simon & Marx, Leslie M., 2020. "Asymptotically optimal prior-free clock auctions," Journal of Economic Theory, Elsevier, vol. 187(C).
    5. Tim Roughgarden & Inbal Talgam-Cohen, 2018. "Approximately Optimal Mechanism Design," Papers 1812.11896, arXiv.org, revised Aug 2020.

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    More about this item

    Keywords

    Mechanism design; Double auctions; Trade reduction mechanism; Deferred-acceptance auctions;
    All these keywords.

    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design

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