Middlemen in Search Equilibrium
Middlemen in Search Equilibrium
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搜索均衡中的中间商
DOI：
10.1111/j.1468-2354.2007.00428.x
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发表时间：
2007
期刊：
影响因子：
--
通讯作者：
A. Masters
中科院分区：
文献类型：
--
作者：
A. Masters
这篇文章展示了如何允许商品在消费点是可分割的，并将生产异质性导致中间商在均衡搜索环境中的出现。在基线模型中，随着市场摩擦的减少，中间商的数量增加，福利减少。当模型被扩展到考虑到生产所花费的时间和市场会议技术的规模收益增加时，中间商可以通过加快会议过程而对社会有益。
This article shows how allowing for goods to be divisible at the point of consumption and incorporating productive heterogeneity lead to the emergence of middlemen in an equilibrium search environment. In the baseline model, middlemen are welfare reducing and their number increases as market frictions are reduced. When the model is extended to allow for time taken in production and increasing returns to scale in the market meeting technology, middlemen can be beneficial to society by speeding up the meeting process.