On the Trade off Between Deficit and Inefficiency and the Double Auction with a Fixed Transaction Fee

DOI10.1111/J.1468-0262.2005.00587.XMaRDI QIDQ5489077zbMATH OpenOpenAlexFDO

Authors Tymon Tatur

Publication date 25 September 2006

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1111/j.1468-0262.2005.00587.x

zbMATH Keywords

asymmetric informationtaxeslarge marketsasymptotic efflciencyMyerson-Satterthwaite theorem, Vickrey-Clarke-Groves mechanism

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) Trade models (91B60)

Recommendations

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Cited in

(7)

• Cost of efficiency in trading perfect complements
• Simple market protocols for efficient risk sharing
• Optimal private good allocation: the case for a balanced budget
• The deficit on each trade in a Vickrey double auction is at least as large as the Walrasian price gap
• The rate of convergence to perfect competition of matching and bargaining mechanisms
• Trade reduction vs. multi-stage: a comparison of double auction design approaches
• When Walras meets Vickrey

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