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This paper compares the performance of direct negotiation, double auction, and a two-sided
combinatorial call market for consolidating fragmented land. Experimental results suggest direct
negotiation produces higher efficiencies than other mechanisms 1) when all commodities need to be
traded to achieve efficiency, and 2) subjects are well exposed to various experimental formats. The
combinatorial call market performs well 1) when swapping is easily agreeable, and 2) when the number
of subjects and commodities are increased and the initial endowments are unchallenging. The two-sided
combinatorial call market suffers from the holdout problem when the number of subjects and
commodities is small.
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本文对于直接协商、双重拍卖、双面组合拆借市场在提升分散化土地的效能方面进行了比较。实验结果表明当1)所有商品需要通过交易来实现效率，和2)受试者有效地参与了各种实验形式时，直接协商比其他机制展现出更高的效率。而当1)交换能够轻易实现，和2)主体和商品的数量增加，以及初期禀赋具有不变性时，组合拆借市场表现良好。但当主体量少和商品的匮乏的时候，双面组合拆借市场就遭遇到了困境。
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