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Intermediation in networks
Siedlarek, Jan-Peter - 2014
I study intermediation in networked markets using a stochastic model of multilateral bargaining in which traders …
Persistent link: https://www.econbiz.de/10010403606
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Intermediaries and product quality in used car markets
Biglaiser, Gary; Li, Fei; Murry, Charles; Zhou, Yiyi - 2018
Persistent link: https://www.econbiz.de/10011960185
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Price Dispersion with Directed Search
Camera, Gabriele - 2014
We present a model that generates empirically plausible price distributions in directed search equilibrium. There are many identical buyers and many identical capacity-constrained sellers who post prices. These prices can be renegotiated to some degree and the outcome depends on the number of...
Persistent link: https://www.econbiz.de/10013039814
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Centralized Matching with Incomplete Information
Fernandez, Marcelo Ariel; Rudov, Kirill; Yariv, Leeat - 2021
We study the impacts of incomplete information on centralized one-to-one matching markets. We focus on the commonly used Deferred Acceptance mechanism (Gale and Shapley, 1962). We show that many complete-information results are fragile to a small infusion of uncertainty
Persistent link: https://www.econbiz.de/10013244540
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'Breaking and Entering' of Contracts as a Matter of Bargaining Power and Exclusivity Clauses
Rosenkranz, Stephanie - 2013
We analyze the effect of liquidated damage rules in exclusive contracts that are negotiated in a sequential bargaining process with endogenous outside options. Assumptions on the distribution of bargaining power influence damage payments and determine which contractual party benefits from...
Persistent link: https://www.econbiz.de/10013085849
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Fairness, price stickiness, and history dependence in decentralized trade
Korth, Christian; Napel, Stefan - 2008
The paper investigates price formation in a decentralized market with random matching. Agents are assumed to have subdued social preferences: buyers, for example, prefer a lower price to a higher one but experience reduced utility increases below a reference price which serves as a common...
Persistent link: https://www.econbiz.de/10009746786
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Fairness, price stickiness, and history dependence in decentralized trade
Korth, Christian; Napel, Stefan - 2009
The paper investigates price formation in a decentralized market with random matching. Agents are assumed to have subdued social preferences: buyers, for example, prefer a lower price to a higher one but experience reduced utility increases below a reference price which serves as a common...
Persistent link: https://www.econbiz.de/10003843416
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Bottleneck links, essential intermediaries, and competing paths of diffusion in networks
Manea, Mihai - In: Theoretical economics : TE ; an open access journal in … 16 (2021) 3, pp. 1017-1053
intermediation chains from buyers in their equivalence classes. Links within the same class constitute bottlenecks for information …
Persistent link: https://www.econbiz.de/10012806313
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Exclusive intermediation
Fainmesser, Itay - 2014
In this paper, we argue that an important function fulfilled by intermediaries is to facilitate trust by enabling social pressure towards the enforcement of informal agreements. To that end, we develop a new model that uses network theory to show that intermediaries who have exclusivity over a...
Persistent link: https://www.econbiz.de/10010353486
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Hybrid intermediaries
Cetorelli, Nicola - 2014
active in the "assembly line" process of modern financial intermediation, a system that has become known as shadow banking … acquiring the capability to engage in financial intermediation. I document instances of the emergence and growth of such nonbank … activities. I focus on securities lending, a well-understood example of shadow financial intermediation, and document the …
Persistent link: https://www.econbiz.de/10010459737