A model of a market with pairwise meetings is developed in which traders have asymmetric information about the true state of the world. The focus is on information transmission. The main questions concern the extent to which the information is revealed to uninformed agents through the trade...

The main idea of this article is that geographical concentration of stores selling similar products can be explained by consumers' imperfect information and their resulting need to search the market. A cluster of stores sustained by these forces is not necessarily located at the point that...

In this article, we consider how important developments in game theory have contributed to the theory of industrial organization. Our goal is not to survey the theory of industrial organization; rather, we consider the contribution of game theory through a careful discussion of a small number of...