New Directions in Market Design

Nyhet

Inbunden, Engelska, 2026

Av Irene Lo, Michael Ostrovsky, Parag A. Pathak

1 619 kr

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A comprehensive survey of the evolution of market design over the past three decades.In the mid-1990s, the first Federal Communications Commission spectrum auction and the redesign of the National Residency Matching Program collectively helped to jumpstart the field of market design. Since then, extensive research has improved auction design and broken new conceptual ground in addressing multi-agent matching problems. This volume summarizes key discoveries and advances in market design over the past three decades and explores contemporary challenges—from climate policy and electricity markets to AI-mediated exchanges and hospital resource allocation. Contributors examine how to design efficient, incentive-compatible mechanisms that are robust to shifting conditions and increasing complexity. They consider a wide variety of applications that could benefit from the market design viewpoint, such as environmental markets, school choice, and organ exchange. Together, the chapters illustrate the important interactions between economic theory, computational tools, and institutional insight.

Produktinformation

Utgivningsdatum2026-01-26
Mått152 x 229 x undefined mm
Vikt454 g
FormatInbunden
SpråkEngelska
SerieNational Bureau of Economic Research Conference Report
Antal sidor240
FörlagThe University of Chicago Press
ISBN9780226846590

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Irene Yuan Lo is assistant professor of management science and engineering at Stanford University. Michael Ostrovsky is the Fred H. Merrill Professor of Economics at Stanford Graduate School of Business and a research associate of the NBER. Parag A. Pathak is the Class of 1922 Professor of Economics at the Massachusetts Institute of Technology, where he is also the founder and director of Blueprint Labs, and a research associate of the NBER.

IntroductionIrene Yuan Lo, Michael Ostrovsky, and Parag A. Pathak1. Market Design and MaintenanceAlvin E. Roth2. Market Design for the EnvironmentEstelle Cantillon and Aurélie Slechten3. Market Design for Surface WaterBilly A. Ferguson and Paul Milgrom4. Market Shaping to Combat Climate ChangeWilliam Arnesen and Rachel Glennerster5. Challenges in Designing Electricity Spot MarketsMete Şeref Ahunbay, Martin Bichler, and Johannes Knörr6. Artificial Intelligence and Market Design: Lessons Learned from Radio Spectrum ReallocationKevin Leyton-Brown, Paul Milgrom, Neil Newman, and Ilya Segal7. Influencing Policy and Transforming Institutions: Lessons from Kidney/Liver ExchangeTayfun Sönmez and M. Utku Ünver8. Matching Hospital Resources with Patients in NeedFanyin Zheng9. The Provision of Information and Incentives in School Assignment MechanismsDerek Neal and Joseph RootAuthor IndexSubject Index