Location

Hilton Waikoloa Village, Hawaii

Event Website

http://hicss.hawaii.edu/

Start Date

1-3-2018

End Date

1-6-2018

Description

In networked markets, information can help firms make better decisions on which market (platform), and how much, to participate. However, these markets may be temporally separated, e.g., independent system operators in different geographical locations. We model these via networked Cournot markets, but instead consider the participation of one firm to either be with the realization (or full information) of a random market, or only with the statistics of the random market, modeled by an additive zero-mean random variable on the maximal price. We show that firms not knowing the realization of the random variable would participate in both markets in the same way as if the mean was realized. We then present global effects: we prove that profit is improved for every firm when one's information improves but social welfare may get better or worst with more information.

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Jan 3rd, 12:00 AM Jan 6th, 12:00 AM

Temporally Networked Cournot Platform Markets

Hilton Waikoloa Village, Hawaii

In networked markets, information can help firms make better decisions on which market (platform), and how much, to participate. However, these markets may be temporally separated, e.g., independent system operators in different geographical locations. We model these via networked Cournot markets, but instead consider the participation of one firm to either be with the realization (or full information) of a random market, or only with the statistics of the random market, modeled by an additive zero-mean random variable on the maximal price. We show that firms not knowing the realization of the random variable would participate in both markets in the same way as if the mean was realized. We then present global effects: we prove that profit is improved for every firm when one's information improves but social welfare may get better or worst with more information.

http://aisel.aisnet.org/hicss-51/in/crowd-based_platforms/6