A pioneer in the field of market design, Harvard Business School professor Alvin E. Roth has helped to repair flawed market systems in fields ranging from kidney donation to high-school student placement. Key concepts include:
* Successful marketplaces must be “thick, uncongested, and safe.”
* Sufficient “thickness” means there are enough participants in the market to make it thrive.
* “Congestion” is what can happen … [ Read more ]
Content: Article | Authors: Alvin E. Roth, Carmen Nobel | Source: Harvard Business School (HBS) Working Knowledge | Subject: Economics
Millions of people participate in online auctions everyday-numbers that are enticing more and more academics to investigate what auctions can tell us about economics, human behavior, and the way we make business decisions.
Harvard Business School professors Alvin E. Roth and Deepak Malhotra have each independently looked at auction behavior and derive some advice for business people who daily bid for everything from chips to consultants.
Roth … [ Read more ]
Content: Article | Authors: Alvin E. Roth, Deepak Malhotra | Source: Harvard Business School (HBS) Working Knowledge | Subject: Organizational Behavior