Collaborative Research on the Microstructure of Financial   Markets
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'Lynn A. Pollnow', 'PO_EMAI': None, 'PO_PHON': None}
An important feature of traditional economic theory is the extreme              degree to which the institutional structure of markets is simplified,           and often not considered as an integral part of the market mechanism.           This approach is never entirely appropriate.  When individuals or firms         perceive a way in which the efficiency of the trading process can be            improved, they may be able to realize a profit by establishing an               institution or market which makes this improvement.  The exclusion of           the processes which determine market structure is a serious deficiency          of conventional analysis for at least for two reasons.  First, to               adequately understand the functioning and evolution of markets requires         the explicit modeling of institutional features.  Secondly, welfare             questions concerning the efficiency of resource allocation in market            economies cannot be addressed nearly as convincingly if market                  structure is not accounted for explicitly.  The purpose of this project         is to investigate the endogeneity and operation of financial markets            and institutions and the implications for the efficient allocation of           resources.
{'FirstName': 'Douglas', 'LastName': 'Gale', 'PI_MID_INIT': 'M', 'PI_SUFX_NAME': None, 'PI_FULL_NAME': 'Douglas M Gale', 'EmailAddress': 'douglas.gale@nyu.edu', 'NSF_ID': '000440283', 'StartDate': '06/01/1988', 'EndDate': None, 'RoleCode': 'Principal Investigator'}
{'Name': 'University of Pittsburgh', 'CityName': 'PITTSBURGH', 'ZipCode': '152600001', 'PhoneNumber': '4126247400', 'StreetAddress': '4200 FIFTH AVENUE', 'StreetAddress2': None, 'CountryName': 'United States', 'StateName': 'Pennsylvania', 'StateCode': 'PA', 'CONGRESSDISTRICT': '18', 'CONGRESS_DISTRICT_ORG': 'PA18', 'ORG_UEI_NUM': 'MKAGLD59JRL1', 'ORG_LGL_BUS_NAME': 'UNIVERSITY OF PITTSBURGH - OF THE COMMONWEALTH SYSTEM OF HIGHER EDUCATION', 'ORG_PRNT_UEI_NUM': None}
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{'Code': '1320', 'Text': 'Economics'}
{'url': 'https://www.nsf.gov/awardsearch/download?DownloadFileName=1987&All=true', 'xml': '8720589.xml'}