Innovation and Market Design

Market design plays an essential role in promoting innovation. I examine emission allowance auctions, airport slot auctions, spectrum auctions, and electricity markets, and demonstrate how the market design can encourage innovation. Improved pricing information is one source of innovation. Enhancing competition is another driver of innovation seen in all of the applications. Market design fosters innovation in other ways as well by addressing other potential market failures.

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Year of publication:	2009
Authors:	Cramton, Peter
Institutions:	University of Maryland, Department of Economics - Peter Cramton
Subject:	Auctions \| market design \| innovation

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Extent:	application/pdf
Series:	Papers of Peter Cramton.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published in Josh Lerner and Scott Stern (eds.), Innovation Policy and the Economy, Volume 9, National Bureau of Economic Research, 113-137, Chicago: University of Chicago Press, 2009 24 pages
Classification:	D44 - Auctions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004997804