Abstract
Pricing of transaction services in electronic financial markets has been undergoing a continuous change. The design of transaction fees plays a crucial role for the business structure of market places. A key element in price schedule design is the order behavior of the customers and their sensitivity to transaction fee changes. We conduct a field experiment as a means to analyze customers’ order behavior following transaction fee changes. The discussion highlights the need for a structured approach for price schedule design in the context of market engineering.
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Burghardt, M. (2008). An Experiment on Investor Behavior in Markets with Nonlinear Transaction Fees. In: Gimpel, H., Jennings, N.R., Kersten, G.E., Ockenfels, A., Weinhardt, C. (eds) Negotiation, Auctions, and Market Engineering. Lecture Notes in Business Information Processing, vol 2. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-77554-6_10
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DOI: https://doi.org/10.1007/978-3-540-77554-6_10
Publisher Name: Springer, Berlin, Heidelberg
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