| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8059 |
| DP8059 Exclusive Nightclubs and Lonely Hearts Columns: Non-monotone Participation in Optional Intermediation | |
| Gianni De Fraja; József Sákovics | |
| 发表日期 | 2010-10-18 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | In many decentralised markets, the traders who benefit most from an exchange do not employ intermediaries even though they could easily afford them. At the same time, employing intermediaries is not worthwhile for traders who benefit little from trade. Together, these decisions amount to non-monotone participation choices in intermediation: only traders of middle ``type'' employ intermediaries, while the rest, the high and the low types, prefer to search for a trading partner directly. We provide a theoretical foundation for this, hitherto unexplained, phenomenon. We build a dynamic matching model, where a trader's equilibrium bargaining share is a convex increasing function of their types. We also show that this is indeed necessary condition for the existence of non-monotone equilibria. |
| 主题 | Industrial Organization |
| 关键词 | Dynamic matching Intermediation Two-sided markets |
| URL | https://cepr.org/publications/dp8059 |
| 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/536875 |
| 推荐引用方式 GB/T 7714 | Gianni De Fraja,József Sákovics. DP8059 Exclusive Nightclubs and Lonely Hearts Columns: Non-monotone Participation in Optional Intermediation. 2010. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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