{"id":"https://openalex.org/W2046355134","doi":"https://doi.org/10.1126/science.254.5031.534","title":"Smart Computer-Assisted Markets","display_name":"Smart Computer-Assisted Markets","publication_year":1991,"publication_date":"1991-10-25","ids":{"openalex":"https://openalex.org/W2046355134","doi":"https://doi.org/10.1126/science.254.5031.534","mag":"2046355134","pmid":"https://pubmed.ncbi.nlm.nih.gov/17806969"},"language":"en","primary_location":{"id":"doi:10.1126/science.254.5031.534","doi":"https://doi.org/10.1126/science.254.5031.534","is_oa":false,"landing_page_url":"https://doi.org/10.1126/science.254.5031.534","pdf_url":null,"source":{"id":"https://openalex.org/S3880285","display_name":"Science","issn_l":"0036-8075","issn":["0036-8075","0193-4511","1095-9203"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-class-a","anvur-scientific","cwts-core","dongbi-a","doyens","erih-plus","jufo-3","ki-jl-3","medline","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315823","host_organization_name":"American Association for the Advancement of Science","host_organization_lineage":["https://openalex.org/P4310315823"],"host_organization_lineage_names":["American Association for the Advancement of Science"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Science","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref","pubmed"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5076630423","display_name":"Kevin McCabe","orcid":"https://orcid.org/0000-0003-0544-157X","observed_orcids":["https://orcid.org/0000-0003-0544-157X"]},"institutions":[{"id":"https://openalex.org/I138006243","display_name":"University of Arizona","ror":"https://ror.org/03m2x1q45","country_code":"US","type":"education","lineage":["https://openalex.org/I138006243"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Kevin A. McCabe","raw_affiliation_strings":["Economic Science Laboratory, College of Business and Public Administration, University of Arizona, Tucson, AZ 85721"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Economic Science Laboratory, College of Business and Public Administration, University of Arizona, Tucson, AZ 85721","institution_ids":["https://openalex.org/I138006243"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5036821307","display_name":"Stephen Rassenti","orcid":"https://orcid.org/0000-0003-1240-7599","observed_orcids":["https://orcid.org/0000-0003-1240-7599"]},"institutions":[{"id":"https://openalex.org/I138006243","display_name":"University of Arizona","ror":"https://ror.org/03m2x1q45","country_code":"US","type":"education","lineage":["https://openalex.org/I138006243"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Stephen J. Rassenti","raw_affiliation_strings":["Economic Science Laboratory, College of Business and Public Administration, University of Arizona, Tucson, AZ 85721"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Economic Science Laboratory, College of Business and Public Administration, University of Arizona, Tucson, AZ 85721","institution_ids":["https://openalex.org/I138006243"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5103236865","display_name":"Vernon L. Smith","orcid":"https://orcid.org/0000-0002-0890-9740","observed_orcids":["https://orcid.org/0000-0002-0890-9740","https://orcid.org/0000-0001-7917-1870"]},"institutions":[{"id":"https://openalex.org/I138006243","display_name":"University of Arizona","ror":"https://ror.org/03m2x1q45","country_code":"US","type":"education","lineage":["https://openalex.org/I138006243"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Vernon L. Smith","raw_affiliation_strings":["Economic Science Laboratory, College of Business and Public Administration, University of Arizona, Tucson, AZ 85721"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Economic Science Laboratory, College of Business and Public Administration, University of Arizona, Tucson, AZ 85721","institution_ids":["https://openalex.org/I138006243"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I138006243"],"apc_list":null,"apc_paid":null,"fwci":0.6641,"has_fulltext":false,"cited_by_count":116,"citation_normalized_percentile":{"value":0.7124219,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"254","issue":"5031","first_page":"534","last_page":"538"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.9301999807357788,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.9301999807357788,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10424","display_name":"Electric Power System Optimization","score":0.039900001138448715,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T10646","display_name":"Experimental Behavioral Economics Studies","score":0.009999999776482582,"subfield":{"id":"https://openalex.org/subfields/3311","display_name":"Safety Research"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/deregulation","display_name":"deregulation","score":0.7390000224113464},{"id":"https://openalex.org/keywords/auction-markets","display_name":"auction markets","score":0.9520000219345093},{"id":"https://openalex.org/keywords/network-industries","display_name":"network industries","score":0.7200000286102295},{"id":"https://openalex.org/keywords/natural-gas-pipelines","display_name":"natural gas pipelines","score":0.8799999952316284},{"id":"https://openalex.org/keywords/power-systems","display_name":"power systems","score":0.9229999780654907},{"id":"https://openalex.org/keywords/transportation-market","display_name":"transport market","score":0.5019999742507935},{"id":"https://openalex.org/keywords/market-design","display_name":"market design","score":0.8379999995231628},{"id":"https://openalex.org/keywords/laboratory-experiments","display_name":"laboratory experiments","score":0.42399999499320984}],"concepts":[{"id":"https://openalex.org/C78780426","wikidata":"https://www.wikidata.org/wiki/Q902410","display_name":"Deregulation","level":2,"score":0.8314816951751709},{"id":"https://openalex.org/C185874996","wikidata":"https://www.wikidata.org/wiki/Q269699","display_name":"Interdependence","level":2,"score":0.6334888339042664},{"id":"https://openalex.org/C2779439359","wikidata":"https://www.wikidata.org/wiki/Q317088","display_name":"Commodity","level":2,"score":0.6238679885864258},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.6120578646659851},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.540168046951294},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.410758376121521},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.3918115198612213},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3229435086250305},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.1491854190826416},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1126/science.254.5031.534","doi":"https://doi.org/10.1126/science.254.5031.534","is_oa":false,"landing_page_url":"https://doi.org/10.1126/science.254.5031.534","pdf_url":null,"source":{"id":"https://openalex.org/S3880285","display_name":"Science","issn_l":"0036-8075","issn":["0036-8075","0193-4511","1095-9203"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-class-a","anvur-scientific","cwts-core","dongbi-a","doyens","erih-plus","jufo-3","ki-jl-3","medline","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315823","host_organization_name":"American Association for the Advancement of Science","host_organization_lineage":["https://openalex.org/P4310315823"],"host_organization_lineage_names":["American Association for the Advancement of Science"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Science","raw_type":"journal-article"},{"id":"pmid:17806969","doi":null,"is_oa":false,"landing_page_url":"https://pubmed.ncbi.nlm.nih.gov/17806969","pdf_url":null,"source":{"id":"https://openalex.org/S4306525036","display_name":"PubMed","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1299303238","host_organization_name":"National Institutes of Health","host_organization_lineage":["https://openalex.org/I1299303238"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Science (New York, N.Y.)","raw_type":"Journal Article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Industry, innovation and infrastructure","score":0.5378999710083008,"id":"https://metadata.un.org/sdg/9"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":12,"referenced_works":["https://openalex.org/W1494153956","https://openalex.org/W1494834929","https://openalex.org/W1514445503","https://openalex.org/W1572294247","https://openalex.org/W2010422249","https://openalex.org/W2027275812","https://openalex.org/W2050963707","https://openalex.org/W2068115726","https://openalex.org/W2131632393","https://openalex.org/W2274338666","https://openalex.org/W3125715322","https://openalex.org/W4245751240"],"related_works":["https://openalex.org/W1572294247","https://openalex.org/W3014917695","https://openalex.org/W1487469256","https://openalex.org/W7065188967","https://openalex.org/W2309672630","https://openalex.org/W2141642054","https://openalex.org/W1486816128","https://openalex.org/W1498614192","https://openalex.org/W2123321602","https://openalex.org/W2084689185"],"abstract_inverted_index":{"The":[0,66],"deregulation":[1],"movement":[2],"has":[3],"motivated":[4],"the":[5,52,57,61,72],"experimental":[6],"study":[7,90],"of":[8,96],"auction":[9],"markets":[10],"designed":[11],"for":[12,100,104],"interdependent":[13],"network":[14],"industries":[15,79],"such":[16,78],"as":[17],"natural":[18],"gas":[19],"pipelines":[20],"or":[21],"electric":[22],"power":[23],"systems.":[24],"Decentralized":[25],"agents":[26],"submit":[27],"bids":[28,63],"to":[29,34,39,60,82,89],"buy":[30],"commodity":[31,38],"and":[32,37,48,64,74,94],"offers":[33],"sell":[35],"transportation":[36],"a":[40],"computerized":[41],"dispatch":[42],"center.":[43],"Computer":[44],"algorithms":[45],"determine":[46],"prices":[47],"allocations":[49],"that":[50],"maximize":[51],"gains":[53],"from":[54],"exchange":[55],"in":[56,77],"system":[58],"relative":[59],"submitted":[62],"offers.":[65],"problem":[67],"is":[68],"important,":[69],"because":[70],"traditionally":[71],"scale":[73],"coordination":[75],"economies":[76],"were":[80],"thought":[81],"require":[83],"regulation.":[84],"Laboratory":[85],"experiments":[86],"are":[87],"used":[88],"feasibility,":[91],"limitations,":[92],"incentives,":[93],"performance":[95],"proposed":[97],"market":[98],"designs":[99],"deregulation,":[101],"providing":[102],"motivation":[103],"new":[105],"theory.":[106]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":6},{"year":2021,"cited_by_count":4},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":3},{"year":2017,"cited_by_count":5},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":2},{"year":2013,"cited_by_count":2},{"year":2012,"cited_by_count":6}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2016-06-24T00:00:00"}