Anbarci, Nejat; Gomis-Porqueras, Pedro; Pivato, Marcus - Deakin University, Faculty of Business and Law, School … - 2013
In formal markets, to attract buyers, sellers must publicly advertise their prices and locations. But in informal markets, sellers must remain anonymous from government authorities. Since agents' payoffs depend on the ratio of buyers and sellers in each of these markets, all agents try to...
