Examples of market design in practice
The results of our market design research aid in the design of institutions to solve a variety of problems around the world. In specific terms, our process is to (1) conduct a detailed study of existing circumstances and practices to (2) identify key points from a theoretical standpoint, (3) develop theoretical solutions to the problems present, and then (4) run computer simulations that guide us in (5) creating a small pilot implementation, with the ultimate aim being to (6) develop a working, full-scale implementation. We also develop software that users can customize to an extent suit their needs, which we also make available as a Web service.