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| Author: | Bloch, F. Ghosal, S. |
| Title: | Stable trading structures in bilateral oligopolies |
| Journal: | Journal of Economic Theory
1997 : JUN, VOL. 74:2, p. 368-384 |
| Index terms: | INTERNATIONAL TRADE ORGANIZATIONAL STRUCTURE OLIGOPOLY BILATERAL TRADE |
| Language: | eng |
| Abstract: | This study analyzes the formation of trading groups in a simple strategic market game with two types traders where each type has a corner in a different commodity. The results show that the trading structure in which all agents trade is the unique strongly stable trading structure. Other weakly stable trading structures may exist and are characterized by a strong ordering property. The analysis bases on two general properties of the noncooperative model of exchange, and focuses on trading structures where all agents participate in active markets. |
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