haku: @author Gehrig, T. / yhteensä: 4
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| Tekijä: | Gehrig, T. |
| Otsikko: | Intermediation in search markets |
| Lehti: | Journal of Economics & Management Strategy
1993 : SPRING, VOL. 2:1, p. 97-120 |
| Asiasana: | MANAGEMENT STRATEGY ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | In markets, in which exchange requires costly search for trading partners, intermediaries can help to reduce the trading frictions. This institution is modeled in a framework with heterogeneous agents, who have the choice between intermediated exchange and search accompanied by some bargaining procedure. The equilibria of such a game are characterized. In the case of a monopolistic intermediary, the tradeoff between the bid-ask spread and the costs of delay during private search determine the intermediary's clientele. |
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