Ilka Weber

Learn More
The design of electronic markets is a time consuming process and often produces unpredictable results. This paper describes a component-based specification of the market microstructure parameters and their composition. In this approach, orthogonal components are defined by rules and algorithms. Composing these components results in a market structure-an(More)
Presently, a multiplicity of trading systems provide electronic markets with various market rules to professional and private investors in different sectors. This range only partially reflects the individual requirements dependent on the type of product and the environmental context of the trade. There is need for individual solutions satisfying these(More)
Electronic markets facilitate the trade of various products between individual traders. Both, the products' individual characteristics and the market participants preferences make specific demands on the market model. This results in trading identical products in different markets. The concept of combining market models allows the traders to participate in(More)
One of the main contributions of classical mechanism design is the derivation of the Groves mechanisms. The class of Groves mechanisms are the only mechanisms that are strategy-proof and more importantly allocative efficient. The VCG mechanism retains its properties for combinatorial allocation problems. From a computational perspective the VCG has to solve(More)
Today's financial electronic markets are a result of the remarkable development in information technology during the last years. With the growth of electronization in financial markets and the establishment of new electronic trading services the design of the market structure moved in the focus of interest. Design decisions determine the market(More)
  • 1