The Art of Designing Markets
As an economist by formation and at heart if not by trade, I have always been fascinated by how the creation of efficient markets can fundamentally improve welfare for all. This is one of the reasons, I love my job at OLX so much: I am creating free, liquid, efficient markets where in many cases there were expensive, fragmented alternatives before.
I recently came across a fascinating article in the Harvard Business Review on how to design markets with examples from the kidney exchange, medical labor, spectrum allocation and school selection markets.
Awesome article. I missed reading that when I had the issue. I think as technology advances to make the world more flat, we’ll have a more even playing field — paving the way for the best providers to get their opportunities.