Optimality Versus Practicality in Market Design: A Comparison of Two Double Auctions

2011 ◽  
Author(s):  
Mark A. Satterthwaite ◽  
Steven R. Williams ◽  
Konstantinos E. Zachariadis
Keyword(s):  
Market Design ◽  
Double Auctions

Implementation Details for Frequent Batch Auctions: Slowing Down Markets to the Blink of an Eye

2014 ◽  
Vol 104 (5) ◽  
pp. 418-424 ◽  
Author(s):  
Eric Budish ◽  
Peter Cramton ◽  
John Shim
Keyword(s):  
Financial Markets ◽  
Market Design ◽  
Short Paper ◽  
Time Intervals ◽  
Double Auctions ◽  
Slowing Down ◽  
Open Questions ◽  
Sealed Bid ◽  
Market Fragmentation ◽  
Economic Considerations

Our recent research (Budish, Cramton, and Shim 2013) proposes frequent batch auctions - uniform-price sealed-bid double auctions conducted at frequent but discrete time intervals - as a market design alternative to continuous-time trading in financial markets. This short paper discusses the implementation details of frequent batch auctions. We outline the process flow for frequent batch auctions, discuss a modification to the market design that accommodates market fragmentation and Reg NMS, and discuss the engineering and economic considerations relevant for determining the batch interval. Open questions are discussed throughout.

Optimality versus practicality in market design: A comparison of two double auctions

2014 ◽  
Vol 86 ◽  
pp. 248-263 ◽  
Author(s):  
Mark A. Satterthwaite ◽  
Steven R. Williams ◽  
Konstantinos E. Zachariadis
Keyword(s):  
Market Design ◽  
Double Auctions

A Nice Electricity Market Design

2019 ◽  
Author(s):  
Chi-Keung Woo ◽  
Jay Zarnikau
Keyword(s):  
Electricity Market ◽  
Market Design

Autonomous Vehicle Market Design

2020 ◽  
Author(s):  
Zhen Lian ◽  
Garrett van Ryzin
Keyword(s):  
Market Design ◽  
Autonomous Vehicle ◽  
Vehicle Market
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