Middlemen and the Allocation of Heterogeneous Goods
نویسندگان
چکیده
This paper presents a general equilibrium model in which middlemen emerge to facilitate trade in an environment of idiosyncratic tastes and heterogeneous goods. The gains to the traders can be measured along three dimensions: the rate of production, the time preference losses generated by the matching process, and the quality of the match between consumers’ preferences and the goods they ultimately consume.
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تاریخ انتشار 1998