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Multi-Attribute Exchange Market: Theory and Experiments
journal contributionposted on 2012-05-01, 00:00 authored by Eugene Fink, Josh Johnson, John Hershberger
The Internet has opened opportunities for efficient on-line trading, and researchers have developed algorithms for various auctions, as well as exchanges for standardized commodities; however, they have done little work on exchanges for complex nonstandard goods. We propose a formal model for trading complex goods, present an exchange system that allows traders to describe purchases and sales by multiple attributes, and give the results of applying it to a used-car market and corporate-bond market.