This paper presents a general equilibrium model in which middlemen emerge to facilitate trade in an environment of idiosyncratic tastes and heterogeneous goods. The gains to the traders can be measured along three dimensions: the rate of production, the time preference losses generated by the matching process, and the quality of the match between consumers’ preferences and the goods they ultimately consume.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)
Mark Pingle & Sankar Mukhopadhyay, 2008.
"Private Money as a Competing Medium of Exchange,"
Working Papers
08-004, University of Nevada, Reno, Department of Economics & University of Nevada, Reno , Department of Resource Economics.
[Downloadable!]
Adrian Masters, 2007.
"Middlemen In Search Equilibrium,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 48(1), pages 343-362, 02.
[Downloadable!] (restricted)