Objective
The advent of the Internet and the increased power of modern day computing have dramatically changed the economic landscape. Billions of dollars worth of goods are being auctioned among geographically dispersed buyers; online brokerages are used to find jobs, trade stocks, make travel arrangements, etc. The architecture of these online (trading) platforms is typically rooted in their pre-Internet counterparts, and advances in the theory of market design combined with increased computing capabilities prompt a careful re-evaluation. This proposal concerns the creation of novel, more flexible institutions using an approach that combines theory, laboratory experiments, and practical policy. The first project enhances our understanding of newly designed package auctions by developing equilibrium models of competitive bidding and measuring the efficacy of alternative formats in controlled experiments. The next project studies novel market forms that allow for all-or-nothing trades to alleviate inefficiencies and enhance dynamic stability when complementarities exist. The third project concerns the design of market regulation and procurement contests to create better incentives for research and development. The fourth project addresses information aggregation properties of alternative voting institutions, suggesting improvements for referenda and jury/committee voting. The Internet has also dramatically altered the nature of social interactions. Emerging institutions such as online social networking tools, rating systems, and web-community Q&A services reduce social distances and catalyze opportunities for social learning. The final project focuses on social learning in a variety of settings and on the impact of social networks on behavior. Combined these projects generate insights that apply to a broad array of social and economic environments and that will guide practitioners to the use of better designed institutions.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
ERC-2009-AdG
See other projects for this call
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Host institution
8006 ZURICH
Switzerland
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.