Evaluating Hidden Market Design
Evaluating Hidden Market Design
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评估隐藏市场设计
DOI：
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发表时间：
2011
期刊：
影响因子：
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通讯作者：
Christof Weinhardt
中科院分区：
文献类型：
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作者：
F. Teschner;Christof Weinhardt
电子市场在协调复杂的分配问题方面越来越重要。市场失灵的一个原因是其固有的复杂性，不包括不成熟的用户。最近，研究者们提出了隐性市场设计的概念，将市场设计与用户界面设计相结合，使复杂的市场能够为更广泛的受众所接受。实现这一目标的一种方法是简化市场接口。到目前为止，使用这种接口如何影响市场效率和个人交易绩效的经验尚不清楚。在经济变量的预测市场中，交易者可以在标准交易界面和隐藏大多数市场复杂性的交易界面之间进行选择。我们发现，使用简化交易-隐藏市场接口的市场参与者更有可能提交有利可图的订单。
Electronic markets are increasingly gaining importance in the coordination of complex allocation problems. One reason for market failure is the inherent complexity excluding non-sophisticated users. Recently researchers proposed the idea of hidden market design which merges the fields of market design with user interface design in order to make complex markets accessible to a broader audience. One way to accomplish that is to simplify the market interface. Thus far it remains empirically unclear how using such interfaces affects market efficiency and individual trading performance. In a prediction market for economic variables, traders can choose between a standard trading interface, and one that hides most market complexities. We find that market participants using a simplified trading -hidden market- interface are more likely to submit profitable orders.