Paper long abstract:

What happens when we think of markets as objects of design? In this paper, I address this question by exploring the possibilities offered by the metaphor of "market design." Inspired by work within the homonymous sub-field of economics that creates tailored-made matching devices for solving specific allocation problems, I argue that the concept of market design calls for a fundamental shift in the conceptualization of markets and their relation to society. In exploring this shift, I draw parallels between the economic literature on auction design and discussions about the role of technology in society, focusing in particular on the visions and promises of the burgeoning literature on synthetic biology.