New Institutional Structures on the Internet: The Economic Design of Online Auctions
The internet facilitates interactive and asynchronous communication among human and artificial agents in large bilateral markets. As a consequence, new institutional structures are emerging in the new economy. I discuss a few core problems associated with the economic design of internet markets and the way they are approached by eBay.com, a popular online auction platform.
Year of publication: |
2002-03
|
---|---|
Authors: | Ockenfels, Axel |
Institutions: | Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft |
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