Do we have names for marketlike structures that are not sufficiently market-like to be markets?
ERCOT, for instance—
- producers and retailers exchanging a good (a real market!)
- prices are set by an… algorithmic demand curve (kind of chemically similar to a market)
- but most consumers are insulated from volatility (hmm)
- some facilities have first rights to the good
- producers and retailers exchanging a good (a real market!)
- prices are set by an… algorithmic demand curve (kind of chemically similar to a market)
- but most consumers are insulated from volatility (hmm)
- some facilities have first rights to the good
Like I want to know what the right name for “???” is. (It seems like “organization” is one term for it.) 
I’m not asking only about the power sector, to be clear—lots of industries seem to function in this way (including, as many ppl have noted, healthcare).
Lots of good answers! I think “construct” or “mechanism” (via @AriPeskoe’s description of ERCOT, below) is my favorite. It also implies a gradient:
https://twitter.com/AriPeskoe/status/1363913812076875782
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