Market engineering comprises the structured, systematic and theoretically founded procedure of analyzing, designing, introducing and also quality assuring of electronic market platforms as well as their legal framework regarding simultaneously their market mechanisms and trading rules, systems, platforms and media, and their business models. Market Engineering borrows concepts and methods from Economics, particularly, Game Theory, and Mechanism Design concepts, but also borrows concepts from Finance, Information Systems and Operations Research.
Read more about Market Engineering: Framework, Process, Computer-aided Market Engineering, Literature
Famous quotes containing the words market and/or engineering:
“Have you not heard of that madman who lit a lantern in the bright morning hours, ran to the market place, and cried incessantly: “I seek God! I seek God!””
—Friedrich Nietzsche (1844–1900)
“Mining today is an affair of mathematics, of finance, of the latest in engineering skill. Cautious men behind polished desks in San Francisco figure out in advance the amount of metal to a cubic yard, the number of yards washed a day, the cost of each operation. They have no need of grubstakes.”
—Merle Colby, U.S. public relief program (1935-1943)