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We study competition among market designers who create new trading platforms, when boundedly rational traders learn to select among them. We ask whether efficient platforms, leading to market - clearing trading outcomes, will dominate the market in the long run. If several market designers are...
Persistent link: https://www.econbiz.de/10010264141
We analyze mechanism choices of competing sellers with private valuations and show the existence of monotone pure strategy equilibria where sellers with higher reservation value choose mechanisms with a lower selling probability and a larger revenue in case of trade. As an application we...
Persistent link: https://www.econbiz.de/10010428738
We analyze mechanism choices of competing sellers with private valuations and show the existence of monotone pure strategy equilibria where sellers with higher reservation value choose mechanisms with a lower selling probability and a larger revenue in case of trade. As an application we...
Persistent link: https://www.econbiz.de/10010470913
Persistent link: https://www.econbiz.de/10003319725
Persistent link: https://www.econbiz.de/10003498643
Persistent link: https://www.econbiz.de/10003311200
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We study competition among market designers who create new trading platforms, when boundedly rational traders learn to select among them. We ask whether efficient platforms, leading to market - clearing trading outcomes, will dominate the market in the long run. If several market designers are...
Persistent link: https://www.econbiz.de/10013317023