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Overview of Material: Market Design

Overview of Material: Market Design. Fall 2008. Peter Coles. pcoles <at> hbs.edu Negotiation, Organizations and Markets Unit | Harvard Business School Baker Library 439 Phone: 617.495.9819 Assistant: Rich Swartz | rswartz@hbs.edu | 617.495.6316. Paper: Assignment.

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Overview of Material: Market Design

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  1. Overview of Material: Market Design Fall 2008

  2. Peter Coles • pcoles <at> hbs.edu • Negotiation, Organizations and Markets Unit | Harvard Business School • Baker Library 439 • Phone: 617.495.9819 • Assistant: • Rich Swartz | rswartz@hbs.edu | 617.495.6316

  3. Paper: Assignment • For next week (due by 5pm Friday) • Browse through the blog • Select a topic either from the blog or from elsewhere (you won’t be held to this topic – this is just meant to get you to start thinking about ideas sooner rather than later) • Submit a paragraph or two discussing potential research ideas.

  4. Topic List • Signaling in Matching Markets • Intro to Auction Theory • Multiunit auctions • Internet Ad Auctions • Generalized Matching • Prediction Markets • Carbon Trading

  5. Guests • Ben Edelman (HBS)– Market for IP addresses • Parag Pathak (MIT) – School Choice • John Parsons (MIT CEEPR - Center for Energy and Environmental Policy Research) • Bettina Klaus • Past Students

  6. Signaling in Matching Markets • Roth & Xing – market for clinical psychologists • Coles & Niederle – Signaling in Matching Markets • AEA Signaling Mechanism

  7. Internet Ad Auctions • Varian – “Position Auctions” • Edelman, Ostrovsky & Schwarz – “Internet Advertising and the Generalized Second-Price Auction”

  8. Generalized Matching • Kelso Crawford (1982) – Multi-unit auction for substitutes. • Hatfield-Milgrom (2005) – Matching with Contracts • Ostrovsky (2008)– Stability in Supply Chain Networks

  9. Gale Shapley vs Kelso Crawford

  10. Prediction Markets • Prediction Market Theory • Prediction Markets in Action - Case Study: Google Prediction Markets • Prediction Markets in Action: Iowa Electronic Markets

  11. Presidential Election: WTA Asset

  12. Carbon Trading • Intro to Cap and Trade Markets • Exercise • Guest: John Parsons (MIT CEEPR - Center for Energy and Environmental Policy Research)

  13. Back to your regularly scheduled programming…

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