CORDIS Project
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This project investigates the complexities of online economic mechanisms, such as auctions, as they scale up in size and speed. It aims to develop a coherent economic theory to manage these complexities, focusing on data access, communication, and cognitive demands on users.
As more and more economic activity is moving to the Internet, familiar economic mechanisms are being deployed at unprecedented scales of size, speed, and complexity.
In many cases this new complexity becomes the defining feature of the deployed economic mechanism and the quantitative difference becomes a key qualitative one. A well-studied example of such situations is how the humble single-item auction suddenly becomes a billion-times repeated online ad auction, or even becomes a combinatoria…
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