{"id":1150,"date":"2012-10-26T20:08:40","date_gmt":"2012-10-26T18:08:40","guid":{"rendered":"http:\/\/cerezo.name\/blog\/?p=1150"},"modified":"2024-10-14T13:49:24","modified_gmt":"2024-10-14T11:49:24","slug":"real-market-models","status":"publish","type":"post","link":"http:\/\/cerezo.name\/blog\/2012\/10\/26\/real-market-models\/","title":{"rendered":"Real Market Models"},"content":{"rendered":"<p style=\"text-align: justify;\">One the biggest mysteries of economics is how an academic discipline could have come so long without solid models of one of its most fundamental pieces of study: markets. They are assumed to exist, without any formal typology nor empirical tests of their properties. So it\u2019s refreshing to find this recent paper to try to tackle this challenge:<\/p>\n<p style=\"text-align: justify;\"><iframe src=\"\/\/docs.google.com\/viewer?url=http%3A%2F%2Fwww.netinst.org%2FRostek_12-18.pdf&amp;hl=en_US&amp;embedded=true\" class=\"gde-frame\" style=\"width:100%; height:500px; border: none;\" scrolling=\"no\"><\/iframe>\n<\/p><p class=\"gde-text\"><a href=\"http:\/\/www.netinst.org\/Rostek_12-18.pdf\" class=\"gde-link\">Download (<span class=\"caps\">PDF<\/span>, 1.<span class=\"caps\">16MB<\/span>)<\/a><\/p>\n<p style=\"text-align: justify;\">It introduces the central property of decentralization to a model of markets, and proceeds to proof that this very property makes them resilient to manipulation, enhancing welfare and liquidity. Just like in the real&nbsp;world.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One the biggest mysteries of economics is how an academic discipline could have come so long without solid models of one of its most fundamental pieces of study: markets. They are assumed to exist, without any formal typology nor empirical tests of their properties. So it\u2019s refreshing to find this recent paper to try&nbsp;to&nbsp;[\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"ngg_post_thumbnail":0},"categories":[21],"tags":[],"_links":{"self":[{"href":"http:\/\/cerezo.name\/blog\/wp-json\/wp\/v2\/posts\/1150"}],"collection":[{"href":"http:\/\/cerezo.name\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cerezo.name\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/cerezo.name\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/cerezo.name\/blog\/wp-json\/wp\/v2\/comments?post=1150"}],"version-history":[{"count":3,"href":"http:\/\/cerezo.name\/blog\/wp-json\/wp\/v2\/posts\/1150\/revisions"}],"predecessor-version":[{"id":1574,"href":"http:\/\/cerezo.name\/blog\/wp-json\/wp\/v2\/posts\/1150\/revisions\/1574"}],"wp:attachment":[{"href":"http:\/\/cerezo.name\/blog\/wp-json\/wp\/v2\/media?parent=1150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cerezo.name\/blog\/wp-json\/wp\/v2\/categories?post=1150"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cerezo.name\/blog\/wp-json\/wp\/v2\/tags?post=1150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}