Boening, Mark V. Van; Wilcox, Nathaniel T. - In: Economic Inquiry 43 (2005) 4, pp. 840-854
Nonconvexities undermine the efficiency of the usually robust "double auction" or DA market institution. We experimentally examine two modified DAs that allow for particularly rich bilateral contracting such as arbitrarily nonlinear pricing. The first allows for arbitrarily nonlinear pricing but...