Experimental research on markets requires software with which one can readily set up multiple simultaneous markets where human participants can exchange tailor-made goods and securities. The software has to be flexible enough so many relevant economics situations can be studied (and taught). Exchange mechanisms have to be realistic, yet amenable to control. Because of the relevance of robot traders in the field, the software should also be able to interface with algorithms that participants write to automate trade or that are made available to participants so they can deploy them to enhance interaction with markets. We do not limit attention to emulating successful field market mechanisms, but explore novel mechanisms, with the goal of resolving tough problems in the field, such as lack of liquidity.
Leverhulme International Professorship in Neuroeconomics at the University of Cambridge Faculty of Economics
