Trust or robustness? An ecological approach to the study of auction and bilateral markets.

ABSTRACT: Centralized markets are often considered more efficient than bilateral exchanges because information is public and the same for all the agents. On decentralized markets, where the information is private, the influence of trust on the market outcome has been underlined by many authors. We present an empirical study of the distinctive Boulogne-sur-Mer Fish Market (where both buyers and sellers can choose to trade by either bidding or bargaining), focused on the interactions between agents. Our approach is inspired by studies of mutualistic ecosystems, where the agents are of two different types (as in plant-pollinator networks) and the interactions only take place between agents of different kinds, naturally providing benefits to both. In our context, where the two kinds of agents are buyers

SUBMITTER: Hernandez L 

PROVIDER: S-EPMC5937751 | biostudies-literature | 2018

REPOSITORIES: biostudies-literature