Structure, Clearinghouses and Symmetry

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.

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Year of publication:	2003-05
Authors:	Shubik, Martin ; Smith, Eric
Institutions:	Cowles Foundation for Research in Economics, Yale University
Subject:	Strategic market games \| Clearinghouses \| Credit evaluation \| Default

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Extent:	application/pdf
Series:	Cowles Foundation Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published in Economic Theory (March 2007), 30(3): 587-597 The price is None Number 1419 24 pages
Classification:	C7 - Game Theory and Bargaining Theory ; G10 - General Financial Markets. General ; G20 - Financial Institutions and Services. General ; L10 - Market Structure, Firm Strategy, and Market Performance. General ; D40 - Market Structure and Pricing. General ; D50 - General Equilibrium and Disequilibrium. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005593560