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- W2186550379 abstract "A three-stage market-game mechanism is devised that is simple (actions are quantities and outcomes are determined by arithmetic operations that do not depend on details of the economy) and achieves efficiency in a two-divisible-good, pure-exchange setting with potential information-aggregation. After an entry stage, agents make offers which are provisional for all but a small, randomly selected group. Then, those offers are announced, and everyone else makes new offers with payoffs determined by a Shapley–Shubik market game. For a finite and large number of players, there exists an almost ex post efficient equilibrium. Conditions for uniqueness are also provided." @default.
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- W2186550379 date "2016-01-01" @default.
- W2186550379 modified "2023-10-18" @default.
- W2186550379 title "Information aggregation in a large multi-stage market game" @default.
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- W2186550379 doi "https://doi.org/10.1016/j.jet.2015.11.005" @default.
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