-frequency trading. We explain how IEX differs from traditional continuous double auction markets and present summary data on IEX … of the continuous double auction. The model predicts that IEX will generally improve price efficiency and lower …

When selling goods like wireless spectrum or electricity contracts, auction designers often opt for core … increasingly, auctions -- such as the FCC's 2016-17 Incentive Auction -- seek to reallocate goods, not just sell them. We show that …

institutionally grounded. We analyze clearing members' behavior at the auction that follows a clearing member default. We find that … the auction works as a “stag hunt” game with two equilibria: a cooperative equilibrium, where clearing members bid boldly … and avert crisis, and an uncooperative equilibrium where they bid timidly and the auction fails. The potential for a CCP …

-Clarke-Groves mechanism and core-selecting auctions. In every ascending auction, the Vickrey-target strategy, i.e., bidding up to the Vickrey …