Consider a model of location choice by two sorts of agents, called buyers and sellers: In the first period agents simultaneously choose between two identical possible locations; following this, the agents at each location play some sort of game with the other agents there. Buyers prefer...

This paper studies the conditions under which two competing and otherwise identical markets or auction sites of different sizes can coexist in equilibrium, without the larger one attracting all of the smaller one's patrons. We find that the range of equilibrium market sizes depends on the...