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Mercator 2009 Demystify ed: Strategies and Guidelines for Market Design in TAC Lam pros C. Stavrogiannis Pericles A. Mickeys Dept. of Electrical and Computer Engineering Aristotle University of Thessaloniki

In general, the process of creating market and its design is not very complex, yet important decision processes are taken into account and there is lack of a complete market design framework that covers all aspects of a market. This paper explains, the design of a market in the context of contemporary economy, including a market design framework that considers many aspects as basic as capital structure, information, legal aspects etc. The paper provides a framework of market design that includes the concept of a value stream where a product is offered at a certain price that is not influenced by the market price. It suggests introducing a simple economic model that considers the relationship between price of the product and the cost of the transaction. A value stream market is assumed to have a certain level of profitability in that there is demand for the product at a certain price. This paper describes the development of a value stream market with a simplified mathematical model to describe and prove the value stream model. A complete market design framework is then presented and its application to an existing market and its market design. This article provides insight into the problem and the research that led to the formulation of this value stream market model and a design framework for design and development of value stream market systems. Keywords: market design, design and development of value stream markets, model of value stream market, basic economic model. 1 Introduction Markets are dynamic, active and adaptive economic systems that allow a diverse set of participants, including individuals and governments, to interact with each and any of these market participants. Their role in society has greatly expanded since Marx observed in The Communist Manifesto [1] that markets were, at the time, the most efficient means of distributing goods, and his words were later used by the sociologist Eric Williams in his book The Economics of Market Failure.[2] In other words, the production of goods in a market system is extremely efficient, as long as markets are allowed to function. The modern world, with more than 7 billion people, represents the perfect setting for a market system. Many studies have been conducted to determine what are some of the conditions that contribute to economic growth. These studies have demonstrated that the factors that determine economic growth and the levels of income and wealth achieved are the same in the same countries over time.

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Health Canada REID (Report on Environmental Impacts and Declarations) Factors are indicators used by Health Canada to assess and evaluate the potential environmental and human health impacts of regulated activities or substances.

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Companies or individuals who are engaged in regulated activities or dealing with regulated substances as defined by Health Canada are required to file REID factors.

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The process of filling out Health Canada REID factors requires gathering relevant information about the regulated activity or substance, assessing its environmental and human health impacts, and completing the necessary forms or reporting templates provided by Health Canada.

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The purpose of Health Canada REID factors is to ensure that regulated activities or substances are properly evaluated and assessed for their potential environmental and human health impacts, allowing Health Canada to make informed decisions and take appropriate actions to mitigate any risks.

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The specific information to be reported on Health Canada REID factors may vary depending on the nature of the regulated activity or substance. Generally, it includes information related to the identity of the activity or substance, its potential environmental releases, potential human exposure pathways, and any available risk management measures.

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