This paper presents the outline for a smart market geared to Quebec s woodchip industry. It aims to explain how such a market operates, and to show how it fits into or modifies the existing trading system. The proposed smart market has two main objectives. The first is to enhance the efficiency...

Le 6 mars 1989, un nouveau mécanisme de mise en marché du porc d'abattage fait son apparition au Québec : l'Encan Électronique du Porc. Ce système d'enchères invalidait la plupart des ententes et des contrats signés jusqu'alors au Québec entre abattoirs et producteurs de porcs et...

Le projet GAMME (Génération automatisée de multiples marchés électroniques) est un projet de recherche scientifique et expérimental qui vise le développement des compétences scientifiques et techniques nécessaires à la mise en place de mécanismes de marchés et d'échange et de...

In this paper we model the market for a homogeneous good and examine the role of information in determining market outcomes. Unlike in Baye and Morgan (2001) where consumers can only learn about the prices charged by different firms by subscribing to an information intermediary’s service, we...

A model of first price sealed bid auctions is developed where bidders meet repeatedly while independently drawing private valuations in each period.Attention is focused on symmetric collusive bidding equilibria when side-payments are not allowed.

This paper studies the role and implications of price advertising when shopping trips are costly to consumers. The authors present a model where consumers search sequentially and where stores advertise the price. Their model has a unique equilibrium exhibiting price dispersion. The model...

Unlike existing models that rely heavily on assumption regarding unions' distributional preferences, the authors present a simple model in which union seniority-layoff rules and rising seniority-wage profiles result from optimal price discrimination against the firm. Surprisingly, even when cash...