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The Alternating Double Auction Market. A Game Theoretic and Experimental Investigation.
Abdolkarim Sadrieh
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Description for The Alternating Double Auction Market. A Game Theoretic and Experimental Investigation.
Paperback. The alternating double action market institution is presented in this book as a discrete time version of the open outcry market. It is analyzed in extensive form in an almost perfect information setting, using the concept of subgame perfectness, and the process of price formation is traced. Series: Lecture Notes in Economics and Mathematical Systems. Num Pages: 357 pages, 1 black & white illustrations, biography. BIC Classification: KCA; PBUD; PDE; TBJ. Category: (P) Professional & Vocational. Dimension: 234 x 156 x 19. Weight in Grams: 1130.
The alternating double auction market institution is presented as a discrete time version of the open outcry market. The game in extensive form is analyzed in an almost perfect information setting, using the concept of subgame perfectness. By applying two new equilibrium selection criteria, a general existence result is obtained for "impatience equilibria" of the game. All such equilibria are shown to have unique properties concerning the traded quantities and prices. The most important results are that the equilibrium prices are independent of the number of traders and are always very close to - if not inside - the range ... Read more
The alternating double auction market institution is presented as a discrete time version of the open outcry market. The game in extensive form is analyzed in an almost perfect information setting, using the concept of subgame perfectness. By applying two new equilibrium selection criteria, a general existence result is obtained for "impatience equilibria" of the game. All such equilibria are shown to have unique properties concerning the traded quantities and prices. The most important results are that the equilibrium prices are independent of the number of traders and are always very close to - if not inside - the range ... Read more
Product Details
Format
Paperback
Publication date
1998
Publisher
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Germany
Number of pages
357
Condition
New
Series
Lecture Notes in Economics and Mathematical Systems
Number of Pages
350
Place of Publication
Berlin, Germany
ISBN
9783540648956
SKU
V9783540648956
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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