HP's Information Aggregation Mechanism
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(Created page with '== Discussion == == References == Chen, K. Y., & Plott, C. R. (2002). [http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.1.7437&rep=rep1&type=pdf Information aggregation …') |
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| + | '''HP's Information Aggregation Mechanism (IAM)''' was initiated in 1996 by Caltech and Hewlett-Packard Laboratories in order to investigate the possibilities of implementing an information aggregation mechanism to ''[[:category:Predict|predict]]'' ''[[:Category:Business topics|product and sales related events]]'' in a ''[[:category:Corporate|corporate]]'' environment. The markets were ''[[:category:Small size markets|small]]'' and ''[[:category:Medium size markets|medium]]'', ranging from 7 to 26 traders, and were open for ''[[:Category:Medium duration|medium duration]]'' (one week). The marketplace employed the ''[[:Category:Continuous Double Auction (CDA)|Continuous Double Auction (CDA)]]'' market model, and operated with ''[[:Category:Real-money|real-money]]''. The traders received ''[[:Category:Initial capital endowment|initial capital endowment]]'' and ''[[:Category:Initial securities endowment|initial securities endowment]]'', and the final dividends were calculated based on a ''[[:Category:Winner-takes-all securities|winner-takes-all securities]]'' model. ''[[:Category:Off-platform interaction|Off-platform interaction]]'' was possible through casual meetings at company's premises. | ||
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| + | The participants were ''[[:Category:Invited traders|invited]]'' from different parts of the business operation. These employees were involved in building the official company's forecasts and therefore had ''[[:Category:Stakeholders|stakes]]'' in the outcome of the markets. Even though the participants were exposed to all the relevant information which was available to the company, they possessed ''[[:Category:Incomplete information|incomplete information]]'' about the event. At the end of the experiment the traders received a ''[[:Category:Monetary reward|monetary reward]]'' according to their ''[[:Category:Performance incentive|performance]]''. | ||
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== Discussion == | == Discussion == | ||
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| - | |||
[[Category:Business topics]] | [[Category:Business topics]] | ||
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[[Category:Continuous Double Auction (CDA)]] | [[Category:Continuous Double Auction (CDA)]] | ||
[[Category:Corporate]] | [[Category:Corporate]] | ||
| + | [[Category:Incomplete information]] | ||
[[Category:Initial capital endowment]] | [[Category:Initial capital endowment]] | ||
[[Category:Initial securities endowment]] | [[Category:Initial securities endowment]] | ||
[[Category:Invited traders]] | [[Category:Invited traders]] | ||
| + | [[Category:Markets]] | ||
[[Category:Medium duration]] | [[Category:Medium duration]] | ||
| + | [[Category:Medium size markets]] | ||
[[Category:Monetary reward]] | [[Category:Monetary reward]] | ||
[[Category:Off-platform interaction]] | [[Category:Off-platform interaction]] | ||
[[Category:Performance incentive]] | [[Category:Performance incentive]] | ||
| + | [[Category:Predict]] | ||
[[Category:Real-money]] | [[Category:Real-money]] | ||
[[Category:Small size markets]] | [[Category:Small size markets]] | ||
[[Category:Stakeholders]] | [[Category:Stakeholders]] | ||
[[Category:Winner-takes-all securities]] | [[Category:Winner-takes-all securities]] | ||
