Mechanism Design And Experimental Analysis On Ascending Clock Double Auction Statistical Measure

Stepping into the21st century, social development and progress continues to accelerate, thenetwork resources joined in the economic stage, due to the Growing social pluralism anddiversity, the international economic and trade ties have become extraordinary in the globaleconomic environment. the fast-changing economic situation complex and diverse economicenvironment brought the global resources so closely linked that efficient allocation the globalresources has become particularly important which acts as the central topic of widespreadconcern in today’s society. How to allocate the limited global marketing resources moreefficiency attracts the eyes of the economists’ now.The paper starts from the view of resource allocation, seeking to greater market efficiencyin the very few research area–the multiple-unit in double auction. Through in-depth analysis thevarious defects of the PAK multi-unit double auction model, invented by Pu Huang et al, and theuniform-price sealed double auction model, invented by Haixin Huang et al, fully draw on theclock auction on the single auction market, and combine the clock auction to the double auctionmarket, this paper builds a new auction mechanism-Ascending Clock Double Auction, ACDA,a double clock auction with ascending price, which is better than the uniform price doubleauction mechanism both in the efficiency of the market and in the risk of bid. And themechanism also can not only calculate a uniform price for the similar items, but also calculatesame different price for the different kinds of items.Also by using two experimental economics research methods-laboratory experiments andcomputer simulation to process the auction experiments the paper, through the first step,completed12innings of total120rounds laboratory experiments, choose three market indicators,the market efficiency, the standardization trading price and the transaction rate proved that thenew mechanism has a higher market efficiency as well higher transaction rate which means theACDA mechanism is better in both those two views. And through the computer simulationexperiments, studied the trading strategies of the new mechanism, found that when the marketinitial price is set sufficiently close to the equilibrium price of the market." telling the truth" willbring both buyers and sellers to higher expected return and increase the likelihood to become buyers and sellers optimum bidding strategy, also found that this incentive is gradual, as theinitial price closing to the market equilibrium price,"telling the truth" continue to strengthenincentives for buyers and sellers, which means the new mechanism is a progressive incentivecompatibility mechanism.Finally, this paper build up the relationship of the new ACDA mechanism and the realauction market, the largest local e-commerce trading platform–Taobao.com, found that the newmechanism not only can break the monopoly, effective segregation market, contribute to theunified credit mechanism, but also with help to improve the problem of information asymmetryfor the e-market transactions.