Abstract: Compared with traditional production factors,the characteristics of non exclusivity,non competitiveness,and non standardization of data factors determine that a trustworthy on exchange trading system is the key to achieving sustainable deve-lopment of the data factor market.Guiding both parties to enter the market for trading is a breakthrough in solving the current lack of reliable data element circulation system,insufficient data flow,and inactive on exchange trading in China.By constructing an evolutionary game model that includes the government,data providers,data demanders,and conducting policy simulation analysis,it is found that the government’s measures such as increasing the penalty amount for over-the-counter transactions,streng-thening the punishment intensity for over-the-counter transactions,reducing entry transaction costs,and increasing entry transaction profits can help promote the implementation of entry trading behavior by both parties.However,the policy variables such as the subsidy incentive,the entry incentive or the disciplinary intensity of OTC transactions,and the OTC transaction income of the data demander are not significant in promoting the entry transactions of the relevant subjects.The influence of these variables can be ignored in the design of policy mechanism.

Key words: Data element trading, Floor trading, Mechanism design, Evolutionary game, Simulation analysis