In economics, a price mechanism refers to the way in which price determines the allocation of resources and influences the quantity supplied and the quantity...

A free price system or free price mechanism (informally called the price system or the price mechanism) is a mechanism of resource allocation that relies...

this auction mechanism is thus incentive-compatible. It is also a Pareto efficient allocation mechanism. Milgrom, Paul (2004). Uniform Price Auctions. In...

The price–specie flow mechanism is a model developed by Scottish economist David Hume (1711–1776) to illustrate how trade imbalances can self-correct...

valuations of the buyers. It is a simple kind of a Bayesian-optimal mechanism, in which the price is determined in advance without collecting actual buyers' bids...

economics and finance, the price discovery process (also called price discovery mechanism) is the process of determining the price of an asset in the marketplace...

price in each sub-market. The optimal price in M L {\displaystyle M_{L}} is applied to M R {\displaystyle M_{R}} and vice versa. Hence, the mechanism...

Government interference in the market mechanism can lead to economic inefficiency when it is applied to some private goods. Prices convey a lot of information....

to a first-price sealed-bid auction. Herodotus relates an account of a descending price auction in Babylon, suggesting that market mechanisms similar to...

The Antikythera mechanism (/ˌæntɪkɪˈθɪərə/ AN-tik-ih-THEER-ə, US also /ˌæntaɪkɪˈ-/ AN-ty-kih-) is an Ancient Greek hand-powered orrery (model of the Solar...

(such as the price mechanism and economic planning), could not either achieve all production, so that either firms use internal prices for all their...

no price mechanism in whatever is left of those markets. With financial markets effectively euthanized, the remaining goods and physical asset prices would...

between various market prices, and the achievement of Pareto optimality through the operations in the capitalistic price mechanism, as well as in the discussion...

Friedrich Hayek's "The Use of Knowledge in Society" on the uses of the price mechanism in allowing information decentralization to order the effective use...

to the economic theory behind congestion pricing, the objective of this policy is to use the price mechanism to cover the social cost of an activity where...

are linked Price discrimination different prices to different buyers types of price discrimination Yield management Price skimming price discrimination...

mechanism design. In mechanism design, the revelation principle can be viewed as a generalization of the Vickrey auction. Auction theory First-price sealed-bid...

service providers than the name-your-own-price mechanism. Priceline.com has two different methods of price discrimination according to the product categories...

economy Price mechanism George J. Stigler, William J. Baumol. "Price system". Encyclopædia Britannica. Retrieved 2 January 2018. I Am The Price System...

between different uses is determined by the price mechanism". Thus the usage of the price mechanism to convey information is the defining feature of the...

design". For instance, Hayek put the price mechanism on the same level as language, which he developed in his price signal theory. Hayek attributed the...

Economics, a "canonical textbook" of mainstream economic thought that "the price mechanism, working through supply and demand in competitive markets, operates...

less than demand. The price mechanism leads to market clearing in the short run. However, if this short-run equilibrium price is sufficiently high, production...

performed by a public body such as the state, and there is a functioning price mechanism, this economy will be Pareto-efficient, like a hypothetical market...

price (a uniform price auction) or at different prices (a discriminatory price auction). A uniform price auction otherwise known as a "clearing price...

economic equilibrium through the price mechanism. That is, any excess supply (market surplus or glut) would lead to price cuts, which decrease the quantity...

Kluwer Academic Publishers, 131–172. Mertens, J.F. (2003). "The limit-price mechanism". Journal of Mathematical Economics. 39 (5–6): 433–528. doi:10...

just the price mechanism but the entire system of regulation, qualification, credentials, reputations and clearing that surrounds that mechanism and makes...

example e-commerce). Market depth Mertens, J.F. (2003). "The limit-price mechanism". Journal of Mathematical Economics. 39 (5–6): 433–528. doi:10...

Myerson–Satterthwaite theorem). How should the auctioneer determine the trading price? An ideal mechanism would satisfy the following properties: Individual Rationality...