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Structure, Clearinghouses and Symmetry.
- Source :
- Economic Theory; Mar2007, Vol. 30 Issue 3, p587-597, 11p, 1 Chart
- Publication Year :
- 2007
-
Abstract
- We 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. [ABSTRACT FROM AUTHOR]
- Subjects :
- TAXONOMY
MARKETS
PRICING
PAYMENT
GAMES
INDUSTRIAL efficiency
AUTONOMY (Psychology)
Subjects
Details
- Language :
- English
- ISSN :
- 09382259
- Volume :
- 30
- Issue :
- 3
- Database :
- Complementary Index
- Journal :
- Economic Theory
- Publication Type :
- Academic Journal
- Accession number :
- 23687079
- Full Text :
- https://doi.org/10.1007/s00199-005-0067-1