Intermediation in Networks
Intermediation in Networks
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网络中介
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发表时间：
2012
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通讯作者：
Jan
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作者：
Jan
我使用多边讨价还价的随机模型来研究网络市场中的中介，在这个模型中，参与者通过网络在不同的路线上竞争。将平稳均衡收益刻画为一组直观的价值函数方程的不动点，研究了效率和网络结构对收益的影响。贸易永远不会太少，但在延迟会有效率的州，通过太多的贸易可能会产生低效。在同质贸易顺差的情况下，随着贸易摩擦的消失，对贸易机会不是必不可少的参与者的收益为零。
I study intermediation in networked markets using a stochastic model of multilateral bargaining in which players compete on different routes through the network. I characterize stationary equilibrium payoffs as the fixed point of a set of intuitive value function equations and study efficiency and the impact of network structure on payoffs. There is never too little trade but there may be an inefficiency through too much trade in states where delay would be efficient. With homogeneous trade surplus the payoffs for players that are not essential to a trade opportunity go to zero as trade frictions vanish.