Markets as communication systems: Simulating and assessing the performance of market networks
As the information relative to endowments, costs and preferences is dispersed among many agents, the quality of resource allocation depends on the ability of markets to communicate information inside the economic system. Because information is transferred through negotiation and transaction behaviors, the network of trading relations defines the channels through which it flows. In the present study, we use new computational tools to analyze the performance of two wholesale trade institutions widely used around the world: network trading and marketplace trading. Whilst network trading and marketplace trading disseminate far fewer bits of information than a perfectly transparent benchmark market, they often manage to generate an allocation of resources that is almost as good. In many cases, network trading proves more.
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Language: | eng |
Subjects: | E70 - Commerce, commercialisation et distribution, U10 - Informatique, mathématiques et statistiques, marché, service d'information marchés, information sur le marché, marketing, analyse de système, modèle de simulation, application des ordinateurs, http://aims.fao.org/aos/agrovoc/c_4626, http://aims.fao.org/aos/agrovoc/c_36525, http://aims.fao.org/aos/agrovoc/c_4617, http://aims.fao.org/aos/agrovoc/c_4620, http://aims.fao.org/aos/agrovoc/c_7581, http://aims.fao.org/aos/agrovoc/c_24242, http://aims.fao.org/aos/agrovoc/c_24009, |
Online Access: | http://agritrop.cirad.fr/562689/ http://agritrop.cirad.fr/562689/1/document_562689.pdf |
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dig-cirad-fr-5626892024-01-28T19:56:28Z http://agritrop.cirad.fr/562689/ http://agritrop.cirad.fr/562689/ Markets as communication systems: Simulating and assessing the performance of market networks. Galtier Franck, Bousquet François, Antona Martine, Bommel Pierre. 2012. Journal of Evolutionary Economics, 22 (1) : 161-201.https://doi.org/10.1007/s00191-011-0225-5 <https://doi.org/10.1007/s00191-011-0225-5> Markets as communication systems: Simulating and assessing the performance of market networks Galtier, Franck Bousquet, François Antona, Martine Bommel, Pierre eng 2012 Journal of Evolutionary Economics E70 - Commerce, commercialisation et distribution U10 - Informatique, mathématiques et statistiques marché service d'information marchés information sur le marché marketing analyse de système modèle de simulation application des ordinateurs http://aims.fao.org/aos/agrovoc/c_4626 http://aims.fao.org/aos/agrovoc/c_36525 http://aims.fao.org/aos/agrovoc/c_4617 http://aims.fao.org/aos/agrovoc/c_4620 http://aims.fao.org/aos/agrovoc/c_7581 http://aims.fao.org/aos/agrovoc/c_24242 http://aims.fao.org/aos/agrovoc/c_24009 As the information relative to endowments, costs and preferences is dispersed among many agents, the quality of resource allocation depends on the ability of markets to communicate information inside the economic system. Because information is transferred through negotiation and transaction behaviors, the network of trading relations defines the channels through which it flows. In the present study, we use new computational tools to analyze the performance of two wholesale trade institutions widely used around the world: network trading and marketplace trading. Whilst network trading and marketplace trading disseminate far fewer bits of information than a perfectly transparent benchmark market, they often manage to generate an allocation of resources that is almost as good. In many cases, network trading proves more. article info:eu-repo/semantics/article Journal Article info:eu-repo/semantics/publishedVersion http://agritrop.cirad.fr/562689/1/document_562689.pdf application/pdf Cirad license info:eu-repo/semantics/restrictedAccess https://agritrop.cirad.fr/mention_legale.html https://doi.org/10.1007/s00191-011-0225-5 10.1007/s00191-011-0225-5 info:eu-repo/semantics/altIdentifier/doi/10.1007/s00191-011-0225-5 info:eu-repo/semantics/altIdentifier/purl/https://doi.org/10.1007/s00191-011-0225-5 |
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E70 - Commerce, commercialisation et distribution U10 - Informatique, mathématiques et statistiques marché service d'information marchés information sur le marché marketing analyse de système modèle de simulation application des ordinateurs http://aims.fao.org/aos/agrovoc/c_4626 http://aims.fao.org/aos/agrovoc/c_36525 http://aims.fao.org/aos/agrovoc/c_4617 http://aims.fao.org/aos/agrovoc/c_4620 http://aims.fao.org/aos/agrovoc/c_7581 http://aims.fao.org/aos/agrovoc/c_24242 http://aims.fao.org/aos/agrovoc/c_24009 E70 - Commerce, commercialisation et distribution U10 - Informatique, mathématiques et statistiques marché service d'information marchés information sur le marché marketing analyse de système modèle de simulation application des ordinateurs http://aims.fao.org/aos/agrovoc/c_4626 http://aims.fao.org/aos/agrovoc/c_36525 http://aims.fao.org/aos/agrovoc/c_4617 http://aims.fao.org/aos/agrovoc/c_4620 http://aims.fao.org/aos/agrovoc/c_7581 http://aims.fao.org/aos/agrovoc/c_24242 http://aims.fao.org/aos/agrovoc/c_24009 |
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E70 - Commerce, commercialisation et distribution U10 - Informatique, mathématiques et statistiques marché service d'information marchés information sur le marché marketing analyse de système modèle de simulation application des ordinateurs http://aims.fao.org/aos/agrovoc/c_4626 http://aims.fao.org/aos/agrovoc/c_36525 http://aims.fao.org/aos/agrovoc/c_4617 http://aims.fao.org/aos/agrovoc/c_4620 http://aims.fao.org/aos/agrovoc/c_7581 http://aims.fao.org/aos/agrovoc/c_24242 http://aims.fao.org/aos/agrovoc/c_24009 E70 - Commerce, commercialisation et distribution U10 - Informatique, mathématiques et statistiques marché service d'information marchés information sur le marché marketing analyse de système modèle de simulation application des ordinateurs http://aims.fao.org/aos/agrovoc/c_4626 http://aims.fao.org/aos/agrovoc/c_36525 http://aims.fao.org/aos/agrovoc/c_4617 http://aims.fao.org/aos/agrovoc/c_4620 http://aims.fao.org/aos/agrovoc/c_7581 http://aims.fao.org/aos/agrovoc/c_24242 http://aims.fao.org/aos/agrovoc/c_24009 Galtier, Franck Bousquet, François Antona, Martine Bommel, Pierre Markets as communication systems: Simulating and assessing the performance of market networks |
description |
As the information relative to endowments, costs and preferences is dispersed among many agents, the quality of resource allocation depends on the ability of markets to communicate information inside the economic system. Because information is transferred through negotiation and transaction behaviors, the network of trading relations defines the channels through which it flows. In the present study, we use new computational tools to analyze the performance of two wholesale trade institutions widely used around the world: network trading and marketplace trading. Whilst network trading and marketplace trading disseminate far fewer bits of information than a perfectly transparent benchmark market, they often manage to generate an allocation of resources that is almost as good. In many cases, network trading proves more. |
format |
article |
topic_facet |
E70 - Commerce, commercialisation et distribution U10 - Informatique, mathématiques et statistiques marché service d'information marchés information sur le marché marketing analyse de système modèle de simulation application des ordinateurs http://aims.fao.org/aos/agrovoc/c_4626 http://aims.fao.org/aos/agrovoc/c_36525 http://aims.fao.org/aos/agrovoc/c_4617 http://aims.fao.org/aos/agrovoc/c_4620 http://aims.fao.org/aos/agrovoc/c_7581 http://aims.fao.org/aos/agrovoc/c_24242 http://aims.fao.org/aos/agrovoc/c_24009 |
author |
Galtier, Franck Bousquet, François Antona, Martine Bommel, Pierre |
author_facet |
Galtier, Franck Bousquet, François Antona, Martine Bommel, Pierre |
author_sort |
Galtier, Franck |
title |
Markets as communication systems: Simulating and assessing the performance of market networks |
title_short |
Markets as communication systems: Simulating and assessing the performance of market networks |
title_full |
Markets as communication systems: Simulating and assessing the performance of market networks |
title_fullStr |
Markets as communication systems: Simulating and assessing the performance of market networks |
title_full_unstemmed |
Markets as communication systems: Simulating and assessing the performance of market networks |
title_sort |
markets as communication systems: simulating and assessing the performance of market networks |
url |
http://agritrop.cirad.fr/562689/ http://agritrop.cirad.fr/562689/1/document_562689.pdf |
work_keys_str_mv |
AT galtierfranck marketsascommunicationsystemssimulatingandassessingtheperformanceofmarketnetworks AT bousquetfrancois marketsascommunicationsystemssimulatingandassessingtheperformanceofmarketnetworks AT antonamartine marketsascommunicationsystemssimulatingandassessingtheperformanceofmarketnetworks AT bommelpierre marketsascommunicationsystemssimulatingandassessingtheperformanceofmarketnetworks |
_version_ |
1792498030834876416 |