prices


determing prices effectively requires



1. transparency of offers & bids

	stock exchange, property auctions, etc.

	bids/offers/last transaction price visible to the general public




2. frequency of transactions

	number of transactions per day, week etc.




3. may need to be implemented as a rule that applies to everybody (e.g. retail prices, employment offers)

	as voluntary disclosure by one party would disadvantage that party





counter reference


lower economic efficiency

large spread between different prices

unknown losses/gains

difficulty in starting for young people & new commencements in an industry
