This paper compares market variability in a variable-k double auction with market variability in fixed-k double auctions. The auctions considered are for independent homogenous products with multiple buyers and multiple sellers. The variable-k double auction uses a novel market price statistic developed from modeling price as a mixture of statistical distributions for buyers' prices and for sellers' prices. This paper considers the market variability between treatments of fixed-k double auctions and variable-k double auctions in order to further assess the mixture model market pricing mechanism.
展开▼
