Continuous Combinatorial Exchange
Description
In multiple-good economies with many buyers and sellers (or many swappers) researchers have advocated Combinatorial Exchange generalized one-shot double auctions in which traders can express offers to buy, sell, or swap packages of goods to facilitate efficient (re)allocations.
Continuous Combinatorial Exchange (CCE) is a continuous-time version of CE. If the stock market were organized as a CCE, rather than as a parallel collection of continuous double auctions, then traders could engage in combinatorial trading strategies across equity markets without exposure risk. The present research defines CCE and emphasizes CCEs potential usefulness in cashless domains (such as MBA course swapping and short-term swaps of airport takeoff-and-landing slots) in which preference elicitation may play an important role.