The Handbook of Market Design

Economists often look at markets as given, and try to make predictions about who will do what and what will happen in these markets. Market design, by contrast, does not take markets as given; instead, it combines insights from economic and game theory together with common sense and lessons learned from empirical work and experimental analysis to aid in the design and implementation of actual markets In recent years the field has grown dramatically, partially because of the successful wave of spectrum auctions in the US and in Europe, which have been designed by a number of prominent economists, and partially because of the increase use of the Internet as the platform over which markets are designed and run There is now a large number of applications and a growing theoretical literature. The Handbook of Market Design brings together the latest research from leading experts to provide a comprehensive description of applied market design over the last two decades In particular, it surveys matching markets: environments where there is a need to match large two-sided populations to one another, such as medical residents and hospitals, law clerks and judges, or patients and kidney donors It also examines a number of applications related to electronic markets, e-commerce, and the effect of the Internet on competition between exchanges. Contributors to this volume - Atila Abdulkadiroglu, Duke University Lawrence M. Ausubel, University of Maryland Sarbartha Bandyopadhyay, EconJobMarket.org. Gary Bolton, Smeal College of Business, Penn State Andrew Byde, Acunu Ltd Peter Cramton, University of Maryland Robert W. Day, University of Connecticut Sam Dinkin, Power Auctions LLC Martin Dufwenberg, University of Arizona Benjamin Edelman, Harvard Business School Aytek Erdil, University of Cambridge Haluk Ergin, University of California, Berkeley Emel Filiz-Ozbay, University of Maryland Joshua Gans, University of Toronto Uri Gneezy, University of California San Diego Ernan Haruvy, University of Texas at Dallas Aviad Heifetz, Open University of Israel Nathaniel Higgins, Johns Hopkins School of Advanced International Studies Fedor Iskhakov, University of Technology Sydney Terence Johnson, University of Notre Dame. Elena Katok, Penn State University Alon Klement, Radzyner School of Law Paul Klemperer, Oxford University Soohyung Lee, University of Maryland David McArthur, University of Maryland Paul Milgrom, Stanford University Zvika Neeman, Tel Aviv University Axel Ockenfels, University of Cologne Erkut Y. Ozbay, University of Maryland Michael Peters, University of British Columbia Chris Preist, University of Bristol Ashok Rai, Williams College Alvin E. Roth, Stanford University John Rust, Georgetown University Tuomas Sandholm, Carnegie Mellon University. Ella Segev, Ben-Gurion University Tomas Sjostrom, Rutgers University Tayfun Sonmez, Boston College Scott Stern, Sloan School, MIT Andrew Stocking, Congressional Budget Office Eric Talley, University of California Berkeley Utku Unver, Boston College Nir Vulkan, Said Business School Joel Watson, University of California, San Diego John Watson, Institute of Evidence-Based Change Robert Wilson, Stanford Business School