Market Design:

the science of policymaking

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ABOUT

Agora (αγορά) is Greek for market as well as meeting place. The AGORA center is the successor of the ESEI group that was based in Zurich between 2010 and 2015 but went "down under" in 2016. 

 

The focus at AGORA is to solve major open design problems and to gain an improved understanding of new mechanisms for auctions, contracts, matching, voting, trading, social learning and networking.

The aim is to advance our scientific knowledge and to provide practitioners with implementations that have been thoroughly tested in the laboratory. The combination of mechanism design and wind tunnel testing defines our approach to the design of better social, political, and economic institutions.

Market design offers a novel scientific approach to policymaking with the potential to transform the social sciences and public policy. It is an interdisciplinary field that combines insights from game theory, experimental economics, computer science, and operations research with domain-specific expertise from the environmental sciences, the financial sector, law, etc.

 

It follows an innovative reverse-engineering methodology that takes the goal rather than the institution as given. In other words, market design starts from a clearly specified objective and asks what institution can best implement it. Market design is transformative in that it breaks with the centuries-long tradition in the social sciences of studying existing institutions and instead proposes to engineer – that is to design, test, and build – new ones.

ABOUT

Agora (αγορά) is Greek for market as well as meeting place. The AGORA center is the successor of the ESEI group that was based in Zurich between 2010 and 2015 but went "down under" in 2016. 

 

The focus at AGORA is to solve major open design problems and to gain an improved understanding of new mechanisms for auctions, contracts, matching, voting, trading, social learning and networking.

The aim is to advance our scientific knowledge and to provide practitioners with implementations that have been thoroughly tested in the laboratory. The combination of mechanism design and wind tunnel testing defines our approach to the design of better social, political, and economic institutions.

Market design offers a novel scientific approach to policymaking with the potential to transform the social sciences and public policy. It is an interdisciplinary field that combines insights from game theory, experimental economics, computer science, and operations research with domain-specific expertise from the environmental sciences, the financial sector, law, etc.

 

It follows an innovative reverse-engineering methodology that takes the goal rather than the institution as given. In other words, market design starts from a clearly specified objective and asks what institution can best implement it. Market design is transformative in that it breaks with the centuries-long tradition in the social sciences of studying existing institutions and instead proposes to engineer – that is to design, test, and build – new ones.

NEWS

 
 

2020

August

AGORA postdoc Garcia-Pola publish "Do People Minimize Regret in Strategic Situations? A Level-k Comparison" in Games and Economic Behavior.

April

AGORA postdoc Bernardo Garcia-Pola semifinalist in the science communication competition Famelab with his talk.

January

AGORA researcher Goeree Visiting Professor at Stanford University until August.

 

January

The paper "Non-equilibrium Play in Centipede Games" by AGORA postdoc Garcia-Pola, Iriberri and Kovarik was accepted for publication at Games and Economic Behavior.

 

2019

October

AGORA researcher Goeree wins the UNSW Business School Outstanding Research Award.

June

The paper "The Exposure Problem and Market Design" by AGORA researchers Jacob Goeree and Luke Lindsay was accepted for publication at the prestigious Review of Economics Studies.

March

Two new postdocs are joining AGORA. Bernardo Garcia-Pola holds a PhD from the University of the Basque Country, while Lucas Pahl received his PhD from the University of Rochester.

February

AGORA researchers Bichler, Ferrell, and Goeree are awarded the INFORMS Design Science Award.

January

AGORA  researchers Bichler, Ferrell, and Goeree are awarded the runner-up Wagner Prize for their paper "Designing Environmental Markets for Trading Catch Shares" in Interfaces.

January

AGORA researchers Bichler and Goeree, together with Vladimir Fux from the Technical University of Munich, published the article "Designing combinatiorial exchanges for the reallocation of resource rights" in the Proceedings of the National Academy of Science (PNAS). 

 

2018

November

AGORA researchers Goeree and Louis are awarded an ARC Discovery Project grant for their project titled "Ranked dependent choice equilibrium".

September

AGORA Director Goeree was elected as a fellow to the Academy of the Social Sciences in Australia.

 

 

July

AGORA researchers Bichler, Ferrell, and Goeree are awarded the EURO Excellence in Practice Award of the Association of the European Operational Research Societies within IFORS.

 

July

AGORA researchers Goeree and Roth are plenary speakers at the Tsinghua BEAT market-design conference in Beijing.

 

June

Ningyi Sun joins AGORA as Scientia PhD. 

April

The new Handbook for Spectrum Auction Design edited by AGORA researchers Bichler and Goeree is discussed in InterMEDIA.

 

2017

October

AGORA researchers Bichler and Goeree publish the Handbook of Spectrum Auction Design with Cambridge University Press.

 

August

AGORA's work on creating new exchanges for fisheries permits explained in BusinessThink