definition
Marketplaces are small parts of big markets
A useful distinction is that marketplaces are small parts of big markets: there is a big market for transportation, and Uber, Lyft, and municipal taxi services are each marketplaces within it; market design mostly concerns designing marketplaces.
definitionpending
Speaker
Alvin RothEvidence Quote
“there's a big market for transportation. Uber is a marketplace in that market. And that's mostly when we talk about market design, what we get to design. We design marketplaces.”
Created: 6/13/2026, 12:30:11 AM
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