Innovation in decentralized markets: Technology versus synthetic products (Record no. 525942)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 01396nam a22001457a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 240426b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Rostek, Marzena and Yoon, Ji Hee |
| 245 ## - TITLE STATEMENT | |
| Title | Innovation in decentralized markets: Technology versus synthetic products |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | American Economic Journal: Microeconomics |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 16(1), Feb, 2024: p.63-109 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | Advances in market-clearing technology for multiple assets and synthetic products present alternative ways to leverage complementarities and substitutabilities in asset payoffs. This paper compares their equilibrium and welfare effects. In competitive markets, either instrument can mimic the efficient design. When traders have price impact, however, synthetic products and market-clearing technology provide separate instruments for impacting markets' performance and can generate synergies or trade-offs. Neither instrument can generally reproduce the other's payoffs state by state. Moreover, innovation in market clearing renders additional synthetic products nonredundant. Our analysis points to the advantages of each type of innovation while also exposing potential risks.- Reproduced https://www.aeaweb.org/articles?id=10.1257/mic.20220138#:~:text=Abstract,can%20mimic%20the%20efficient%20design. |
| 773 ## - HOST ITEM ENTRY | |
| Main entry heading | American Economic Journal: Microeconomics |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) | |
| Subject DIP | INNOVATION |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Item type | Articles |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Permanent location | Current location | Date acquired | Serial Enumeration / chronology | Barcode | Date last seen | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Indian Institute of Public Administration | Indian Institute of Public Administration | 2024-04-26 | 16(1), Feb, 2024: p.63-109 | AR131735 | 2024-04-26 | Articles |