منابع مشابه
Intermediation and Resale in Networks
We study intermediation in markets with a network structure. A good is sequentially resold via bilateral bargaining between linked intermediaries until it reaches one of several buyers. A decomposition of the network into layers captures intermediation power. Competitive forces allow intermediaries to demand the full surplus when they resell the good within a layer, while trades between layers ...
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This chapter surveys a set of papers that analyze strategic intermediation in networks. In all these papers, the architecture of the network, by determining the level of competition and outside options of traders, has an impact on how surplus is shared across trading parties. We emphasize the insights that are most recurrent in the literature.
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We consider a network of intermediaries facilitating exchange between buyers and a seller. Intermediary traders face a private trading cost, a network characterizes the set of feasible transactions, and an auction mechanism sets prices. We examine stable and equilibrium networks. Stable networks, which are robust to agents’ collusive actions, exist when cost uncertainty is acute and multiple, i...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2012
ISSN: 1556-5068
DOI: 10.2139/ssrn.2120455