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This paper generalizes Rubinstein and Wolinsky's model of middlemen (intermediation) by incorporating production and … and dynamics. In the benchmark model, equilibrium exists uniquely, and involves production and intermediation for some … parameters but not others. Sometimes intermediation is essential: the market operates iff middlemen are active. If bargaining …
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bargaining taking various forms, including two-party negotiations of different types and multiparty housing auctions. The chapter …
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I study intermediation in networked markets using a stochastic model of multilateral bargaining in which traders …
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