The digital economy allows for traditional markets to happen virtually (for example, through eBay) and for new market platforms to take hold where no formal system had previously existed, for example, via Uber, Airbnb, or Match.com. Other successful market design applications include stable-matching mechanisms for school choice, spectrum auction design, the design of flower markets, electricity markets, dating markets, and digital advertising markets. Despite much visible success, frictions related to information asymmetry, trust, and lack of understanding of the quantification and distribution of overall welfare generated by such markets persist. Further, a wave of technological innovation in the form of machine learning, block-chain, AI, and IoT-enabled smart-product ecosystems stands to disrupt our traditional thinking around market formation and efficienc

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