Search and Trading in Intermediated Markets
Search and Trading in Intermediated Markets
复制标题
中间市场的搜索和交易
DOI：
10.1111/j.1430-9134.1996.00195.x
复制
发表时间：
1996
影响因子：
1.9
通讯作者：
Abdullah Yavas
中科院分区：
文献类型：
--
作者：
Abdullah Yavas
本文考察了中间商对交易者搜索和交易行为的影响。研究表明，中间估值的买卖双方会选择相互搜索，而高估值和低估值的买卖双方会退出搜索市场，选择直接与中间商交易。中间人的要价和出价作为买方和卖方的外部选择，并影响两者之间的讨价还价的结果。该模型概括了Gehrig（1993）的观点，将交易者的搜索强度内生化，允许交易者去中介机构，即使他们已经进行了搜索，并使中介机构能够提供即时服务。版权所有1996年马萨诸塞州理工学院。
This paper examines the effect of a middleman on the search and trading behavior of the traders. It is shown that the buyer and seller types with middle valuations choose to search for each other, while the buyer and seller types with high or low valuations drop out of the search market and choose to trade directly with the middleman. The ask and bid prices of the middleman act as an outside option for the buyer and seller, and influence the outcome of the bargaining between the two. The model generalizes Gehrig (1993) by endogenizing the traders' search intensities, by allowing the traders to go to an intermediary even if thy have engaged in search, and by enabling the intermediary to provide the service of immediacy. Copyright 1996 The Massachusetts Institute of Technology.
失业和不确定性
DOI：
--
发表时间：
2006
期刊：
Journal of Economic Theory 126
影响因子：
--
作者：
Kasuga;M;小島幸治;Tomoyuki Nakajima
通讯作者：
Tomoyuki Nakajima