Convergence of Double Auctions to Pareto Optimal Allocations in the Edgeworth Box

Double auctions with profit-motivated human traders as well as quot;zero-intelligencequot; programmed traders have previously been shown to converge to Pareto optimal allocations in partial equilibrium settings. We show that these results remain robust in two-good general equilibrium settings and elucidate how market structure, not optimization by traders, guides efficient resource allocation

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Year of publication:	[2008]
Authors:	Gode, Dhananjay (Dan) K.
Other Persons:	Spear, Stephen (contributor) ; Sunder, Shyam (contributor)
Publisher:	[2008]: [S.l.] : SSRN

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Extent:	1 Online-Ressource (25 p)
Series:	NYU Working Paper ; No. DHANANJAY (DAN) K. GODE-09
Type of publication:	Book / Working Paper
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 2004 erstellt
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012770005