Negotiations regularly take place on the business-to-business side of two-sided markets. However, little is known about the consequences of these negotiations on a platform's design, pricing, participation, and welfare. In this paper, we propose a model where platforms choose between the...

Firms in traditional markets often compete in output à la Cournot. In this paper, we consider Cournot competition between platforms in a two-sided market. We find that the markup and markdown terms are distorted toward zero for greater levels of platform competition and for greater levels of...