| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1536 |
| DP1536 Parental Support for Human Capital Investment by Young Adults | |
| John F Ermisch | |
| 发表日期 | 1996-12-31 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | This paper analyses competition between direct and intermediated trade. We show that middlemen?s supply and demand depend on both their bid and ask prices if sellers and buyers have the alternative of trading directly. Multiplicity also prevails. Direct trade does not constrain the market power of middlemen unless it is frictionless. Our results suggest that the timing of disintermediation is likely to be sub-optimal and have implications, more generally, for the analysis of many financial and food markets, where parallel or alternative trade channels for the same good exist. |
| 主题 | Industrial Organization |
| 关键词 | Disintermediation Intermediation Middleman |
| URL | https://cepr.org/publications/dp1536 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530684 |
| 推荐引用方式 GB/T 7714 | John F Ermisch. DP1536 Parental Support for Human Capital Investment by Young Adults. 1996. |
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