two kinds of market mechanism: the double auction, where bids, asks and trades take place in continuous time throughout a … an aggregating device. As a main result, this paper shows that double auction markets are, in several instances, superior …

two kinds of market mechanism: the double auction, where bids, asks and trades take place in continuous time throughout a … an aggregating device. As a main result, this paper shows that double auction markets are, in several instances, superior …

two kinds of market mechanism: the double auction, where bids, asks and trades take place in continuous time throughout a … an aggregating device. As a main result, this paper shows that double auction markets are, in several instances, superior …

final auction price. We propose an alternative double auction design that delivers more efficient price discovery and …

artificial stock market. Initially, a realistic base-line model is set up around a continuous double auction market, with trading …

artificial stock market. Initially, a realistic base-line model is set up around a continuous double auction market, with trading …

factor, we investigate two kinds of market mechanism: the double auction, where bids, asks and trades take place in …-monetised/monetised trading with double auction/clearing house. We find that: convergence is faster under non-monetised trading, implying that the …; and that the volume of trade and realised surpluses are higher with the double auction than the clearing house. As far as …