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other is a market-making mode where an intermediary offers a platform for buyers and sellers to trade with each other. In …
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; the other is a market-making mode by which an intermediary offers a platform for buyers and sellers to trade with each …
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buyers. We show that the platform optimally implements the efficient outcome, but fully extracts surplus from the …
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; the other is a market-making mode by which an intermediary offers a platform for buyers and sellers to trade with each …
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