Search results for "Market game"
showing 3 items of 3 documents
Complementary Consumer Responsibility - The Limits to Immoral Delegation in Markets
2019
Delegation has been shown to facilitate individual immoral behavior. It is however unclear, if these findings extend to markets, where consumers may punish firms who delegate immoral production decisions. I address this question by employing an experimental market paradigm, involving an unfair product, containing a negative externality, and a fair product without externality. Passive delegation of the production decision, with random matching between an owner and a seller, leads to a lower share of the fair product being traded, consistent with the findings on responsibility diffusion. Active delegation in contrast, where owners have a choice over sellers first, increases the share of the f…
A Binary Particle Swarm Optimization Algorithm for a Double Auction Market
2007
In this paper, we shall show the design of a multi-unit double auction (MDA) market. It should be enough robust, flexible and sufficiently efficient in facilitating exchanges. In a MDA market, sellers and buyers submit respectively asks and bids. A trade is made if a buyers bid exceeds a sellers ask. A sellers ask may match several buyers bids and a buyers bid may satisfy several sellers asks. The trading rule of a market defines the organization, information exchange process, trading procedure and clearance rules of the market. The mechanism is announced before the opening of the market so that every agent knows how the market will operate in advance. These autonomous agents pursue their o…
Museums as participants in the market game: The political and economic context of the functioning of the museums
2017
Under the influence of contemporary social and political changes, which have resulted in, inter alia, changes in the structure of museum audiences and their expectations, museums have had to implement new practices and tools which were previously not present in their fields of interest. these processes changed the definition of the mission of a contemporary museum and the way of ommunicating with participants of culture. today a museum, like every other institution on the entertainment and leisure market, has to attract recipients of its offer. Museums thus engage in ever more close relationships with the field of economy. Moreover, the model of public financing of culture subjects the acti…