Market Visualizations
在k重复Edgeworth箱经济实验中,比较人类交易者屏幕上有不同可视化工具时的市场结果。新可视化包括显示所有可行投资组合价值的热图、订单簿几何显示以及通过点击热图下单。与传统文本界面相比,新功能普遍提高了分配效率、价格效率和盈利效率。
Abstract In a $k$ -replica Edgeworth box economy, we compare outcomes of laboratory markets in which human traders have different visualizations available on their screens. Novel visualizations include a heat map that shows at a glance the value of all feasible portfolios (i.e., final allocations); a geometric display of the order book; and order entry via point-and-click on the heat map. Efficiency metrics focus on allocations, prices and profitability. Compared to the traditional text-oriented trader screen for the continuous double auction, we find that the novel features generally increase all three efficiency metrics.