Buyers, Sellers and Middlemen: Variations on Search-Theoretic Themes
Buyers, Sellers and Middlemen: Variations on Search-Theoretic Themes
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买家、卖家和中间商：搜索理论主题的变化
DOI：
10.3386/w17511
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发表时间：
2011
期刊：
影响因子：
--
通讯作者：
Randall Wright
中科院分区：
文献类型：
--
作者：
YY Linda Wong;Randall Wright
我们研究双边交换，包括直接贸易和通过中间商或中间商链进行的间接贸易。我们开发了一个模型，这种活动和目前的应用程序。这说明了中间商是如何以及有多少人参与的，以及贸易条件是如何确定的。我们展示了如何讨价还价与一个中间商取决于即将举行的谈判与下游中间商，导致滞留问题。我们将讨论买卖双方在双边交易中的角色，以及如何解读价格。我们开发一个特定的谈判解决方案，并将其与其他解决方案相关联。除了将我们的框架与其他中间商模型进行对比之外，我们还讨论了与搜索理论不同分支的联系。我们还说明了泡沫如何在中介中出现。
We study bilateral exchange, both direct trade and indirect trade that happens through chains of intermediaries or middlemen. We develop a model of this activity and present applications. This illustrates how, and how many, intermediaries get involved, and how the terms of trade are determined. We show how bargaining with one intermediary depends on upcoming negotiations with downstream intermediaries, leading to holdup problems. We discuss the roles of buyers and sellers in bilateral exchanges, and how to interpret prices. We develop a particular bargaining solution and relate it to other solutions. In addition to contrasting our framework with other models of middlemen, we discuss the connection to different branches of search theory. We also illustrate how bubbles can emerge in intermediation.