Marketmaking Middlemen.
This article develops a model in which market structure is determined endogenously by the choice of intermediation mode. There are two representative modes of intermediation that are widely used in real‐life markets: one is a middleman mode where an intermediary purchases inventory from the wholesal...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 54; no. 1; pp. 83 - 104 |
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| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Mar2023
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=162398026&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 162398026 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 07416261 56RJ jtl: RAND Journal of Economics (Wiley-Blackwell) issn: 07416261 maglogo: Y pubinfo: dt: Mar2023 vid: 54 iid: 1 pid: 480 pub: Wiley-Blackwell artinfo: ui: 162398026 10.1111/1756-2171.12431 ppf: 83 ppct: 21 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 359KB tig: atl: Marketmaking Middlemen. aug: au: Gautier, Pieter Hu, Bo Watanabe, Makoto affil: Vrije Universiteit Amsterdam, Amsterdam, Netherlands Institute of World Economy, School of Economics, Fudan University Institute of Economic Research, Kyoto University, Kyoto, Japan su: Distributors (Commerce) Market design & structure (Economics) Wholesale trade sug: subj: All other merchant wholesalers Wholesale trade agents and brokers Wholesale Trade Agents and Brokers Distributors (Commerce) Market design & structure (Economics) Wholesale trade ab: This article develops a model in which market structure is determined endogenously by the choice of intermediation mode. There are two representative modes of intermediation that are widely used in real‐life markets: one is a middleman mode where an intermediary purchases inventory from the wholesale market and resells to buyers; the other is a market‐making mode where an intermediary offers a platform for buyers and sellers to meet and trade. We show that a marketmaking middleman, who adopts a mixture of these two intermediation modes, can emerge in a directed search equilibrium and discuss implications for the market structure. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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