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Market Design SIGNED

Market Design: Theory and Applications in Development

Total Cost €

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EC-Contrib. €

0

Partnership

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Project "Market Design" data sheet

The following table provides information about the project.

Coordinator
UNIVERSIDAD CARLOS III DE MADRID 

Organization address
address: CALLE MADRID 126
city: GETAFE (MADRID)
postcode: 28903
website: http://www.uc3m.es

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Spain [ES]
 Total cost 1˙516˙287 €
 EC max contribution 1˙516˙287 € (100%)
 Programme 1. H2020-EU.1.1. (EXCELLENT SCIENCE - European Research Council (ERC))
 Code Call ERC-2015-CoG
 Funding Scheme ERC-COG
 Starting year 2016
 Duration (year-month-day) from 2016-08-01   to  2021-07-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    UNIVERSIDAD CARLOS III DE MADRID ES (GETAFE (MADRID)) coordinator 1˙516˙287.00

Map

 Project objective

There are two components to my research plan.

First is the study of dynamic markets for real and financial assets in which traders might have asymmetric information. In particular I aim to understand how different characteristics of the market such as frequency of trade and transparency affect the efficiency with which these markets operate. This is a stepping stone to then be able to understand how these markets can be designed or regulated to improve their efficiency. Allowing for competition among market places can also indicate if the best way to intervene in these markets is by fostering competition or if direct government intervention is called for.

Second, market imperfections are exacerbated in developing countries due to the poor rule of law and poor institutional framework. Thus, important welfare gains can potentially be achieved by mitigating these imperfections and fostering the development of markets. I plan to work on these issues by combining theoretical analysis with controlled randomized trials to validate the theoretical insights in the field. For example there are many durable goods such as solar lights that would greatly enhance the welfare of poor rural households. These markets have been very slow to develop due to the lack of credit of final consumers and uncertainty about product quality. By properly designing the self-enforcing agreements between the producers of these goods and the retailers we can ensure retailers get access to financing from the producers. In turn this would allow retailers to extend financing to final consumers. Work on the field will surely uncover other frictions which we can study theoretically how to overcome and again test in the field with further controlled randomized trials.

 Publications

year authors and title journal last update
List of publications.
2017 Vladimir Asriyan, William Fuchs, Brett Green
Information Spillovers in Asset Markets with Correlated Values
published pages: 2007-2040, ISSN: 0002-8282, DOI: 10.1257/aer.20151714
American Economic Review 107/7 2019-06-18

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The information about "MARKET DESIGN" are provided by the European Opendata Portal: CORDIS opendata.

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