Combinatorial Information Market Design
Information Systems Frontiers
A dynamic pari-mutuel market for hedging, wagering, and information aggregation
EC '04 Proceedings of the 5th ACM conference on Electronic commerce
Computer
Proceedings of the 8th ACM conference on Electronic commerce
Permutation betting markets: singleton betting with extra information
Proceedings of the 9th ACM conference on Electronic commerce
Parimutuel Betting on Permutations
WINE '08 Proceedings of the 4th International Workshop on Internet and Network Economics
WINE '09 Proceedings of the 5th International Workshop on Internet and Network Economics
Betting Boolean-style: a framework for trading in securities based on logical formulas
Decision Support Systems - Special issue: The fourth ACM conference on electronic commerce
A new understanding of prediction markets via no-regret learning
Proceedings of the 11th ACM conference on Electronic commerce
A practical liquidity-sensitive automated market maker
Proceedings of the 11th ACM conference on Electronic commerce
An axiomatic characterization of continuous-outcome market makers
WINE'10 Proceedings of the 6th international conference on Internet and network economics
An optimization-based framework for automated market-making
Proceedings of the 12th ACM conference on Electronic commerce
Liquidity-sensitive automated market makers via homogeneous risk measures
WINE'11 Proceedings of the 7th international conference on Internet and Network Economics
Proceedings of the 13th ACM Conference on Electronic Commerce
Proceedings of the 13th ACM Conference on Electronic Commerce
Efficient Market Making via Convex Optimization, and a Connection to Online Learning
ACM Transactions on Economics and Computation - Special Issue on Algorithmic Game Theory
An axiomatic characterization of adaptive-liquidity market makers
Proceedings of the fourteenth ACM conference on Electronic commerce
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We characterize cost function market makers designed to elicit traders' beliefs about the expectations of an infinite set of random variables or the full distribution of a continuous random variable. This characterization is derived from a duality perspective that associates the market maker's liabilities with market beliefs, generalizing the framework of [11,13], but relies on a new subdifferential analysis. It differs from prior approaches in that it allows arbitrary market beliefs, not just those that admit density functions. This allows us to overcome the impossibility results of [10] and design the first automated market maker for betting on the realization of a continuous random variable taking values in {0,1} that has bounded loss without resorting to discretization. Additionally, we show that scoring rules are derived from the same duality and share a close connection with cost functions for eliciting beliefs.