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原文連結
論文資訊
- 類型：已發表論文
- 日期：2017-09-14
摘要
We consider mechanisms that provide the opportunity to exchange commodity i for commodity j, for certain ordered pairs ij. Given any connected graph G of opportunities, we show that there is a unique "G-mechanism" that satisfies some natural conditions of "fairness" and "convenience". Next we define time and price complexity for any G-mechanism as (respectively) the time required to exchange i for j, and the 資訊 needed to determine the exchange ratio (each for the worst pair ij). If the number of commodities exceeds three, there are precisely three minimally complex G -mechanisms, where G corresponds to the star, cycle and complete graphs. The star mechanism has a distinguished commodity - the money - that serves as the sole medium of exchange and mediates trade between decentralized market
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