TY  - JOUR
AU  - Milgrom, Paul R
AU  - Tadelis, Steven
TI  - How Artificial Intelligence and Machine Learning Can Impact Market Design
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 24282
PY  - 2018
Y2  - February 2018
DO  - 10.3386/w24282
UR  - http://www.nber.org/papers/w24282
L1  - http://www.nber.org/papers/w24282.pdf
N1  - Author contact info:
Paul Milgrom
Stanford University
Department of Economics
579 Serra Mall
Stanford, CA   94305-6072
E-Mail: milgrom@stanford.edu

Steven Tadelis
Haas School of Business
University of California, Berkeley
545 Student Services Building
Berkeley, CA 94720
Tel: 510/643-0546
E-Mail: stadelis@haas.berkeley.edu
M1  - published as Paul R. Milgrom, Steven Tadelis. "How Artificial Intelligence and Machine Learning Can Impact Market Design," in Ajay Agrawal, Joshua Gans, and Avi Goldfarb, editors, "The Economics of Artificial Intelligence: An Agenda" University of Chicago Press (2019)

M3  - presented at "Economics of Artificial Intelligence", September 13-14, 2017
AB  - In complex environments, it is challenging to learn enough about the underlying characteristics of transactions so as to design the best institutions to efficiently generate gains from trade. In recent years, Artificial Intelligence has emerged as an important tool that allows market designers to uncover important market fundamentals, and to better predict fluctuations that can cause friction in markets. This paper offers some recent examples of how Artificial Intelligence helps market designers improve the operations of markets, and outlines directions in which it will continue to shape and influence market design.
ER  -