Human traders across multiple markets: Attracting intra-marginal traders under economic experiments

Jung Woo Sohn; Anthony M. Kwasnica; Tracy Mullen

doi:10.1007/978-3-642-34200-4_8

Human traders across multiple markets: Attracting intra-marginal traders under economic experiments

Jung Woo Sohn, Anthony M. Kwasnica, Tracy Mullen

Risk Management

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

1 Scopus citations

Abstract

Progress in information technology and globalization of world economy enable traders to choose from more than one market exchanges to trade in. This paper investigates the impacts of charging different types of market fees on human traders' market selection behavior under two markets. The experimental results show that intra-marginal, or high-value human traders selected a market charging lump-sum registration fees more frequently, while extra-marginal traders, or low-value traders, selected a market charging fixed-rate profit fee more often. This is in alignment with previous findings with software trading agents.

Original language	English (US)
Title of host publication	Agent-Mediated Electronic Commerce - Designing Trading Strategies and Mechanisms for Electronic Markets, TADA 2010, Revised Selected Papers
Publisher	Springer Verlag
Pages	109-126
Number of pages	18
ISBN (Print)	9783642341991
DOIs	https://doi.org/10.1007/978-3-642-34200-4_8
State	Published - 2012
Event	ACM EC Workshop on Trading Agent Design and Analysis, TADA 2010, Co-located with the EC 2010 Conference - Cambridge, MA, United States Duration: Jun 7 2010 → Jun 7 2010

Publication series

Name	Lecture Notes in Business Information Processing
Volume	118 LNBIP
ISSN (Print)	1865-1348

Other

Other	ACM EC Workshop on Trading Agent Design and Analysis, TADA 2010, Co-located with the EC 2010 Conference
Country/Territory	United States
City	Cambridge, MA
Period	6/7/10 → 6/7/10

All Science Journal Classification (ASJC) codes

Management Information Systems
Control and Systems Engineering
Business and International Management
Information Systems
Modeling and Simulation
Information Systems and Management

Access to Document

10.1007/978-3-642-34200-4_8

Cite this

Sohn, J. W., Kwasnica, A. M., & Mullen, T. (2012). Human traders across multiple markets: Attracting intra-marginal traders under economic experiments. In Agent-Mediated Electronic Commerce - Designing Trading Strategies and Mechanisms for Electronic Markets, TADA 2010, Revised Selected Papers (pp. 109-126). (Lecture Notes in Business Information Processing; Vol. 118 LNBIP). Springer Verlag. https://doi.org/10.1007/978-3-642-34200-4_8

Sohn, Jung Woo ; Kwasnica, Anthony M. ; Mullen, Tracy. / Human traders across multiple markets : Attracting intra-marginal traders under economic experiments. Agent-Mediated Electronic Commerce - Designing Trading Strategies and Mechanisms for Electronic Markets, TADA 2010, Revised Selected Papers. Springer Verlag, 2012. pp. 109-126 (Lecture Notes in Business Information Processing).

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title = "Human traders across multiple markets: Attracting intra-marginal traders under economic experiments",

abstract = "Progress in information technology and globalization of world economy enable traders to choose from more than one market exchanges to trade in. This paper investigates the impacts of charging different types of market fees on human traders' market selection behavior under two markets. The experimental results show that intra-marginal, or high-value human traders selected a market charging lump-sum registration fees more frequently, while extra-marginal traders, or low-value traders, selected a market charging fixed-rate profit fee more often. This is in alignment with previous findings with software trading agents.",

author = "Sohn, {Jung Woo} and Kwasnica, {Anthony M.} and Tracy Mullen",

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series = "Lecture Notes in Business Information Processing",

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Sohn, JW, Kwasnica, AM & Mullen, T 2012, Human traders across multiple markets: Attracting intra-marginal traders under economic experiments. in Agent-Mediated Electronic Commerce - Designing Trading Strategies and Mechanisms for Electronic Markets, TADA 2010, Revised Selected Papers. Lecture Notes in Business Information Processing, vol. 118 LNBIP, Springer Verlag, pp. 109-126, ACM EC Workshop on Trading Agent Design and Analysis, TADA 2010, Co-located with the EC 2010 Conference, Cambridge, MA, United States, 6/7/10. https://doi.org/10.1007/978-3-642-34200-4_8

Human traders across multiple markets: Attracting intra-marginal traders under economic experiments. / Sohn, Jung Woo; Kwasnica, Anthony M.; Mullen, Tracy.
Agent-Mediated Electronic Commerce - Designing Trading Strategies and Mechanisms for Electronic Markets, TADA 2010, Revised Selected Papers. Springer Verlag, 2012. p. 109-126 (Lecture Notes in Business Information Processing; Vol. 118 LNBIP).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

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Sohn JW, Kwasnica AM, Mullen T. Human traders across multiple markets: Attracting intra-marginal traders under economic experiments. In Agent-Mediated Electronic Commerce - Designing Trading Strategies and Mechanisms for Electronic Markets, TADA 2010, Revised Selected Papers. Springer Verlag. 2012. p. 109-126. (Lecture Notes in Business Information Processing). doi: 10.1007/978-3-642-34200-4_8

Human traders across multiple markets: Attracting intra-marginal traders under economic experiments

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