I examine the role of intermediaries on the world's largest peer-to-peer online lending platform. This marketplace as well as other recently opened lending websites allow people to auction microcredit over the internet and are in line with the disintermediation in financial transactions through...

Why do some incomplete information markets feature intermediaries while others do not? I study the allocation of two goods in an incomplete information setting with a single principal, multiple agents with unit demand, and interdependent valuations. I construct a novel dynamic mechanism...

We introduce a new class of matching mechanisms - quantile stable mechanisms - that generate stable matchings that can be seen as a compromise between sides of a two-sided market. We show that responsiveness is a sufficient condition for the existence of such mechanisms and that all such...