Tuesday, September 16, 2008

Market Design: An Update?

If McMillan were updating his paper today (he died well before his time), he might add a few examples to his list. Among the highlights:

RGGI --> 9 days till the first auction!

Pending FAA slot auctions --> The FAA has finally come around to the advice of academic economists. If only Charles Schumer and the Port Authority would get out of the way...

Key Word Auctions --> Microsoft employs Susan Athey as their chief economist. This is a very big-dollar new market institution that has plenty of design elements from the academic literature.

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