. In this setting, the smaller merchants gain access to the store traffic of the major retailer, in return for commission …

of a house and the real estate broker hired by the seller. The model is then used to calibrate the broker's commission … to reduce prices generates faster sales and hence improves social welfare, the usual commission rate of 6 percent exceeds … the buyer's and seller's brokers and the agencies that employ these realtors) split the commission, then a 6 percent …