vindicating the position that the legal system had a marginal role in mitigating agency problems in long-distance trade in this … historical era.** Edwards and Ogilvie constantly present legal actions in non-trade related legal cases as evidence for a … reliance on the legal system for matters pertaining to long-distance trade. Their criticism of Greif's documentary analysis …

market power. Two main results are shown. First, in the presence of buyer power trade liberalization may lead to retail … market concentration. Due to this concentration retail prices may be higher and welfare may be lower in free trade than in … autarky, thus reversing the standard effects of trade liberalization. Second, the pro-competitive effects of trade …

; the other is a market-making mode by which an intermediary offers a platform for buyers and sellers to trade with each …