{"id":"https://openalex.org/W2571000838","doi":"https://doi.org/10.1145/2994501.2994508","title":"Do prices coordinate markets?","display_name":"Do prices coordinate markets?","publication_year":2016,"publication_date":"2016-09-06","ids":{"openalex":"https://openalex.org/W2571000838","doi":"https://doi.org/10.1145/2994501.2994508","mag":"2571000838"},"language":"en","primary_location":{"id":"doi:10.1145/2994501.2994508","is_oa":false,"landing_page_url":"https://doi.org/10.1145/2994501.2994508","pdf_url":null,"source":{"id":"https://openalex.org/S4210233839","display_name":"ACM SIGecom Exchanges","issn_l":"1551-9031","issn":["1551-9031"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319798","host_organization_name":"Association for Computing Machinery","host_organization_lineage":["https://openalex.org/P4310319798"],"host_organization_lineage_names":["Association for Computing Machinery"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"ACM SIGecom Exchanges","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"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/A5033286190","display_name":"Justin Hsu","orcid":"https://orcid.org/0000-0002-8953-7060"},"institutions":[{"id":"https://openalex.org/I36788626","display_name":"California University of Pennsylvania","ror":"https://ror.org/01spssf70","country_code":"US","type":"education","lineage":["https://openalex.org/I36788626"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Justin Hsu","raw_affiliation_strings":["University of Pennsylvania"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Pennsylvania","institution_ids":["https://openalex.org/I36788626"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5045592180","display_name":"Jamie Morgenstern","orcid":"https://orcid.org/0000-0003-3753-8405"},"institutions":[{"id":"https://openalex.org/I36788626","display_name":"California University of Pennsylvania","ror":"https://ror.org/01spssf70","country_code":"US","type":"education","lineage":["https://openalex.org/I36788626"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Jamie Morgenstern","raw_affiliation_strings":["University of Pennsylvania"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Pennsylvania","institution_ids":["https://openalex.org/I36788626"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5083717910","display_name":"Ryan Rogers","orcid":"https://orcid.org/0000-0002-0545-9350"},"institutions":[{"id":"https://openalex.org/I36788626","display_name":"California University of Pennsylvania","ror":"https://ror.org/01spssf70","country_code":"US","type":"education","lineage":["https://openalex.org/I36788626"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Ryan Rogers","raw_affiliation_strings":["University of Pennsylvania"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Pennsylvania","institution_ids":["https://openalex.org/I36788626"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5057693522","display_name":"Aaron Roth","orcid":"https://orcid.org/0000-0002-0586-0515"},"institutions":[{"id":"https://openalex.org/I36788626","display_name":"California University of Pennsylvania","ror":"https://ror.org/01spssf70","country_code":"US","type":"education","lineage":["https://openalex.org/I36788626"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Aaron Roth","raw_affiliation_strings":["University of Pennsylvania"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Pennsylvania","institution_ids":["https://openalex.org/I36788626"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5010335625","display_name":"Rakesh Vohra","orcid":"https://orcid.org/0000-0003-1049-0827"},"institutions":[{"id":"https://openalex.org/I36788626","display_name":"California University of Pennsylvania","ror":"https://ror.org/01spssf70","country_code":"US","type":"education","lineage":["https://openalex.org/I36788626"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Rakesh Vohra","raw_affiliation_strings":["University of Pennsylvania"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Pennsylvania","institution_ids":["https://openalex.org/I36788626"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I36788626"],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":1,"citation_normalized_percentile":{"value":0.19022457,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":94},"biblio":{"volume":"15","issue":"1","first_page":"84","last_page":"88"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.9998999834060669,"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":0.9998999834060669,"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/T11031","display_name":"Game Theory and Applications","score":0.9988999962806702,"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/T12137","display_name":"Economic theories and models","score":0.9972000122070312,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.7016541957855225},{"id":"https://openalex.org/keywords/general-equilibrium-theory","display_name":"General equilibrium theory","score":0.6086733341217041},{"id":"https://openalex.org/keywords/walrasian-auction","display_name":"Walrasian auction","score":0.592802882194519},{"id":"https://openalex.org/keywords/mathematical-economics","display_name":"Mathematical economics","score":0.5879098176956177},{"id":"https://openalex.org/keywords/common-value-auction","display_name":"Common value auction","score":0.5285362601280212},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.5077110528945923},{"id":"https://openalex.org/keywords/outcome","display_name":"Outcome (game theory)","score":0.49359166622161865},{"id":"https://openalex.org/keywords/property","display_name":"Property (philosophy)","score":0.4270198345184326},{"id":"https://openalex.org/keywords/population","display_name":"Population","score":0.41041356325149536},{"id":"https://openalex.org/keywords/vickrey-auction","display_name":"Vickrey auction","score":0.1335785984992981},{"id":"https://openalex.org/keywords/auction-theory","display_name":"Auction theory","score":0.09209489822387695}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7016541957855225},{"id":"https://openalex.org/C103382277","wikidata":"https://www.wikidata.org/wiki/Q282640","display_name":"General equilibrium theory","level":2,"score":0.6086733341217041},{"id":"https://openalex.org/C129650952","wikidata":"https://www.wikidata.org/wiki/Q1423059","display_name":"Walrasian auction","level":5,"score":0.592802882194519},{"id":"https://openalex.org/C144237770","wikidata":"https://www.wikidata.org/wiki/Q747534","display_name":"Mathematical economics","level":1,"score":0.5879098176956177},{"id":"https://openalex.org/C163239763","wikidata":"https://www.wikidata.org/wiki/Q5153637","display_name":"Common value auction","level":2,"score":0.5285362601280212},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.5077110528945923},{"id":"https://openalex.org/C148220186","wikidata":"https://www.wikidata.org/wiki/Q7111912","display_name":"Outcome (game theory)","level":2,"score":0.49359166622161865},{"id":"https://openalex.org/C189950617","wikidata":"https://www.wikidata.org/wiki/Q937228","display_name":"Property (philosophy)","level":2,"score":0.4270198345184326},{"id":"https://openalex.org/C2908647359","wikidata":"https://www.wikidata.org/wiki/Q2625603","display_name":"Population","level":2,"score":0.41041356325149536},{"id":"https://openalex.org/C83426474","wikidata":"https://www.wikidata.org/wiki/Q243758","display_name":"Vickrey auction","level":4,"score":0.1335785984992981},{"id":"https://openalex.org/C11276805","wikidata":"https://www.wikidata.org/wiki/Q771334","display_name":"Auction theory","level":3,"score":0.09209489822387695},{"id":"https://openalex.org/C149923435","wikidata":"https://www.wikidata.org/wiki/Q37732","display_name":"Demography","level":1,"score":0.0},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1145/2994501.2994508","is_oa":false,"landing_page_url":"https://doi.org/10.1145/2994501.2994508","pdf_url":null,"source":{"id":"https://openalex.org/S4210233839","display_name":"ACM SIGecom Exchanges","issn_l":"1551-9031","issn":["1551-9031"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319798","host_organization_name":"Association for Computing Machinery","host_organization_lineage":["https://openalex.org/P4310319798"],"host_organization_lineage_names":["Association for Computing Machinery"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"ACM SIGecom Exchanges","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":7,"referenced_works":["https://openalex.org/W1915165977","https://openalex.org/W2075208090","https://openalex.org/W2148352389","https://openalex.org/W2158268067","https://openalex.org/W2158486621","https://openalex.org/W2266556251","https://openalex.org/W3099223078"],"related_works":["https://openalex.org/W984926680","https://openalex.org/W2182148111","https://openalex.org/W2555287995","https://openalex.org/W1965016740","https://openalex.org/W2086356404","https://openalex.org/W2187404705","https://openalex.org/W2481373432","https://openalex.org/W2362462129","https://openalex.org/W1991251805","https://openalex.org/W3147832762"],"abstract_inverted_index":{"A":[0],"Walrasian":[1,36,86,111,133,158],"equilibrium":[2,87,112,159],"outcome":[3],"has":[4],"a":[5,18,67,90,102,148,214],"remarkable":[6],"property:":[7],"the":[8,26,78,125,130,156,170,179,191,195,208,223,236,241,251,254],"induced":[9,212],"allocation":[10],"maximizes":[11,21],"social":[12],"welfare":[13,211],"while":[14],"each":[15,53],"buyer":[16],"receives":[17],"bundle":[19],"that":[20,50,118,155,207],"her":[22],"individual":[23],"surplus":[24,47],"at":[25,66,194],"given":[27],"prices.":[28,197],"There":[29],"are,":[30],"however,":[31],"two":[32,139,143],"caveats.":[33],"First,":[34,145],"minimal":[35,157,196],"prices":[37,71,88,98,107,134,160],"necessarily":[38],"induce":[39,161],"indifferences.":[40],"Thus,":[41],"without":[42,99],"coordination,":[43],"buyers":[44,56,95,171],"may":[45,57,116],"choose":[46],"maximizing":[48],"bundles":[49],"conflict":[51],"with":[52,61,229],"other.":[54],"Accordingly,":[55],"need":[58],"to":[59,64,76,85,205,218],"coordinate":[60,77],"one":[62],"another":[63],"arrive":[65],"socially":[68],"optimal":[69],"outcome---the":[70],"alone":[72],"are":[73,108],"not":[74,109],"sufficient":[75],"market.":[79,126],"Second,":[80,198],"although":[81],"natural":[82],"auctions":[83],"converge":[84,217],"on":[89,152,250],"fixed":[91],"population,":[92],"in":[93,101,135,164,235,240],"practice":[94],"typically":[96],"observe":[97],"participating":[100],"price":[103,215,227],"computation":[104],"process.":[105],"These":[106],"perfect":[110],"prices,":[113],"but":[114],"we":[115,141,146,199],"hope":[117],"they":[119],"still":[120],"encode":[121],"distributional":[122],"information":[123],"about":[124],"To":[127],"better":[128],"understand":[129],"performance":[131],"of":[132,137,181,225,238,253],"light":[136],"these":[138],"problems,":[140],"give":[142],"results.":[144],"propose":[147],"mild":[149],"genericity":[150],"condition":[151,178],"valuations":[153],"so":[154],"allocations":[162],"resulting":[163],"low":[165],"overdemand,":[166],"no":[167,248],"matter":[168],"how":[169],"break":[172],"ties.":[173],"In":[174],"fact,":[175],"under":[176],"our":[177],"overdemand":[180,209],"any":[182],"good":[183],"can":[184],"be":[185],"bounded":[186],"by":[187,213],"1,":[188],"which":[189],"is":[190],"best":[192],"possible":[193],"use":[200],"techniques":[201],"from":[202],"learning":[203],"theory":[204],"argue":[206],"and":[210,233],"vector":[216],"their":[219],"expectations":[220],"uniformly":[221],"over":[222],"class":[224],"all":[226],"vectors,":[228],"sample":[230],"complexity":[231],"linear":[232],"quadratic":[234],"number":[237],"goods":[239],"market":[242],"respectively.":[243],"The":[244],"latter":[245],"results":[246],"make":[247],"assumption":[249],"form":[252],"valuation":[255],"functions.":[256]},"counts_by_year":[{"year":2023,"cited_by_count":1}],"updated_date":"2026-05-21T06:26:12.895304","created_date":"2025-10-10T00:00:00"}