Friday, May 6, 2011

Milgrom on market design

Paul Milgrom has an article in the latest  (April 2011) issue of Economic Inquiry:

Abstract: The years since 1994 have witnessed the emergence of market design as a new discipline within economics, in which research and practice exert powerful mutual influences in matching and auction markets. The problem of designing well-functioning auction markets has led economic designers to revisit such fundamental issues as the definitions of commodities, the ways participants communicate with markets, the trade-offs between the incentives provided for truthful reporting and other attributes of mechanism performance, and the determinants of the scope of markets, especially whether and how trade in different goods is linked.

1 comment:

I-5 Design & Manufacture said...

I believe that customers get their first impression of a store by the look of the outside of the building. I think that the extrerior signage and overall design of the market can either increase or decrease the companies buisness and income.