The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
What Makes Markets Allocationally Efficient?
Abstract
What determines the allocative efficiency of markets? Why are double auctions, even with untrained human traders, allocationally efficient? We provide a simple explanation for these complex phenomena by showing how externally observable rules that define a market cause high allocative efficiency when individuals remain within the confines of these rules. We also show how the oft-ignored shape of extramarginal demand and supply affects efficiency by influencing the inverse relationship between the magnitude of efficiency loss and its probability.
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Citations
Cites
Irrational Behavior and Economic Theory
Becker, G. S. (1962) · Journal of Political Economy · doi:10.1086/258584 · Cited by 1,156
Cited by
Davidson, S., De Filippi, P., & Potts, J. (2016) · SSRN Electronic Journal · doi:10.2139/ssrn.2744751 · Cited by 308
Control and Assurance in E-Commerce: Privacy, Integrity, and Security at Ebay
Duh, R.-R., Sunder, S., & Jamal, K. (2002) · doi:10.2139/ssrn.350663 · Cited by 55
Self-citation
Metadata
- Authors
- Gode, D. K., & Sunder, S.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1997-05-01
- Volume
- 112
- Issue
- 2
- Pages
- 603-630
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W2087921975
- Cited by
- 188
- References
- 1
- FWCI
- 4.50
- Type
- journal article
- Language
- en
- Open access
- closed
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- Gode, D. K., & Sunder, S. (1997). What Makes Markets Allocationally Efficient? The Quarterly Journal of Economics. https://doi.org/10.1162/003355397555307
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
