Econ Papers Daily / 期刊论文
市场可视化
Market visualizations
摘要
In a $k$ -replica Edgeworth box economy, we compare outcomes of laboratory markets in which human traders have different visualizations available on their screens. Novel visualizations include a heat map that shows at a glance the value of all feasible portfolios (i.e., final allocations); a geometric display of the order book; and order entry via point-and-click on the heat map. Efficiency metrics focus on allocations, prices and profitability. Compared to the traditional text-oriented trader screen for the continuous double auction, we find that the novel features generally increase all three efficiency metrics.
中文摘要
在一个$k$重复埃奇沃思盒经济中，我们比较了人类交易者在屏幕上拥有不同可视化选项的实验室市场结果。新颖的可视化功能包括：热力图，可一目了然地显示所有可行投资组合（即最终配置）的价值；订单簿的几何展示；以及通过点击热力图进行订单输入。效率指标侧重于配置、价格和盈利能力。与传统的面向文本的连续双向拍卖交易屏幕相比，我们发现新颖功能通常能提升所有三项效率指标。