Efficient dark markets
| LEADER | caa a22 4500 | ||
|---|---|---|---|
| 001 | 605475903 | ||
| 003 | CHVBK | ||
| 005 | 20210128100354.0 | ||
| 007 | cr unu---uuuuu | ||
| 008 | 210128e20150801xx s 000 0 eng | ||
| 024 | 7 | 0 | |a 10.1007/s00199-014-0851-x |2 doi |
| 035 | |a (NATIONALLICENCE)springer-10.1007/s00199-014-0851-x | ||
| 100 | 1 | |a Pancs |D Romans |u Department of Economics, University of Rochester, 14627, Rochester, NY, USA |4 aut | |
| 245 | 1 | 0 | |a Efficient dark markets |h [Elektronische Daten] |c [Romans Pancs] |
| 520 | 3 | |a This paper studies a standard dynamic trading environment with asymmetric information. A trading mechanism, called a dark market, is proposed that achieves allocative efficiency (i.e., maximizes the total surplus). The mechanism's critical feature is that it conceals from traders the history of past trades. Under plausible conditions, the dark market is stable (i.e., impervious to non-conforming trades offered by an entrant market-maker). | |
| 540 | |a Springer-Verlag Berlin Heidelberg, 2014 | ||
| 690 | 7 | |a Dark markets |2 nationallicence | |
| 690 | 7 | |a Efficiency |2 nationallicence | |
| 690 | 7 | |a Stability |2 nationallicence | |
| 690 | 7 | |a Information disclosure |2 nationallicence | |
| 773 | 0 | |t Economic Theory |d Springer Berlin Heidelberg |g 59/3(2015-08-01), 605-624 |x 0938-2259 |q 59:3<605 |1 2015 |2 59 |o 199 | |
| 856 | 4 | 0 | |u https://doi.org/10.1007/s00199-014-0851-x |q text/html |z Onlinezugriff via DOI |
| 898 | |a BK010053 |b XK010053 |c XK010000 | ||
| 900 | 7 | |a Metadata rights reserved |b Springer special CC-BY-NC licence |2 nationallicence | |
| 908 | |D 1 |a research-article |2 jats | ||
| 949 | |B NATIONALLICENCE |F NATIONALLICENCE |b NL-springer | ||
| 950 | |B NATIONALLICENCE |P 856 |E 40 |u https://doi.org/10.1007/s00199-014-0851-x |q text/html |z Onlinezugriff via DOI | ||
| 950 | |B NATIONALLICENCE |P 100 |E 1- |a Pancs |D Romans |u Department of Economics, University of Rochester, 14627, Rochester, NY, USA |4 aut | ||
| 950 | |B NATIONALLICENCE |P 773 |E 0- |t Economic Theory |d Springer Berlin Heidelberg |g 59/3(2015-08-01), 605-624 |x 0938-2259 |q 59:3<605 |1 2015 |2 59 |o 199 | ||