Ginsburgh, Victor; Legros, Patrick; Sahuguet, Nicolas - In: International Journal of Industrial Organization 28 (2010) 6, pp. 639-644
We analyze the welfare consequences of an increase in the commissions charged by intermediaries in auction markets. Commissions are similar to taxes imposed on buyers and sellers, and standard economics suggests that both sellers and buyers are made worse off by the tax. However, we show that...