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Competition among Middlemen When Buyers and Sellers can Trade Directly
Fingleton, John - C.E.P.R. Discussion Papers - 1996
This paper examines how the introduction of a direct trade alternative for buyers and sellers affects competition among middlemen. Direct trade makes middlemen’s supply and demand functions depend on both bid and ask prices, a feature we term interdependence. A simple model is used to...
Persistent link: https://www.econbiz.de/10005662288
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A class of multipartner matching markets with a strong lattice structure
Alkan, Ahmet - In: Economic Theory 19 (2002) 4, pp. 737-746
For a two-sided multipartner matching model where agents are given by path-independent choice functions and no quota restrictions, Blair [7] had shown that stable matchings always exist and form a lattice. However, the lattice operations were not simple and not distributive. Recently Alkan [3]...
Persistent link: https://www.econbiz.de/10005370785
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Competition between Intermediated and Direct Trade and the Timing of Disintermediation
Fingleton, John - Department of Economics, Trinity College Dublin - 1996
This paper analyses competition between direct and intermediated trade. We show that a middleman's supply and demand … prevails. Direct trade does not constrain the market power of a middleman unless it is frictionless. Our results suggest that … the timing of disintermediation is likely to be sub-optimal and have implications, more generally, for the analysis many …
Persistent link: https://www.econbiz.de/10005729307
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Stable Schedule Matchings
Komornik, Vilmos; Komornik, Zsolt; Viauroux, Christelle - Economics Department, University of Maryland-Baltimore … - 2010
In order to treat a natural schedule matching problem related with worker-firm matchings, we generalize some theorems of Baiou--Balinski and Alkan--Gale by applying a fixed point method of Fleiner.
Persistent link: https://www.econbiz.de/10008552108
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Fairness, Price Stickiness, and History Dependence in Decentralized Trade
Korth, Christian; Napel, Stefan - Wirtschafts- und Sozialwissenschaftliche Fakultät, … - 2009
The paper investigates price formation in a decentralized market with random matching. Agents are assumed to have subdued social preferences: buyers, for example, prefer a lower price to a higher one but experience reduced utility increases below a reference price which serves as a common...
Persistent link: https://www.econbiz.de/10005163027
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Fairness, Price Stickiness, and History Dependence in Decentralized Trade
Korth, Christian; Napel, Stefan - Wirtschafts- und Sozialwissenschaftliche Fakultät, … - 2008
The paper investigates price formation in a decentralized market with random matching. Agents are assumed to have subdued social preferences: buyers, for example, prefer a lower price to a higher one but experience reduced utility increases below a reference price which serves as a common...
Persistent link: https://www.econbiz.de/10005163041
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Price Dispersion with Directed Search.
Camera, Gabriele; Selcuk, Cemil - Krannert School of Management, Purdue University - 2004
We study a market where identical capacity-constrained sellers compete to attract identical buyers, via price advertisements. Once buyers reach a store, prices might be renegotiable in a manner that is responsive to excess demand. We focus strongly symmetric equilibria, proving their existence...
Persistent link: https://www.econbiz.de/10005616535
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Price Dispersion with Directed Search
Camera, Gabriele; Selcuk, Cemil - In: Journal of the European Economic Association 7 (2009) 6, pp. 1193-1224
We present a model that generates empirically plausible price distributions in directed search equilibrium. There are many identical buyers and many identical capacity-constrained sellers who post prices. These prices can be renegotiated to some degree and the outcome depends on the number of...
Persistent link: https://www.econbiz.de/10010558826
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Intermediation in Networks
Siedlarek, Jan-Peter - Volkswirtschaftliche Fakultät, … - 2014
I study intermediation in networked markets using a stochastic model of multilateral bargaining in which traders …
Persistent link: https://www.econbiz.de/10010904042
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Information Costs, Networks and Intermediation in International Trade
Petropoulou, Dimitra - Centre for Economic Performance, LSE - 2008
role of information costs on incentives for trade intermediation, thereby endogenising the pattern of direct and indirect … trade. Intermediation is shown to unambiguously raise expected trade volume and social welfare by expanding the set of …
Persistent link: https://www.econbiz.de/10005151029