Middle Men Versus Market Makers: A Theory of Competitive Exchange
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- John Rust & George Hall, 2003. "Middlemen versus Market Makers: A Theory of Competitive Exchange," Journal of Political Economy, University of Chicago Press, vol. 111(2), pages 353-403, April.
- John Rust & George Hall, 2002. "Middlemen versus Market Makers: A Theory of Competitive Exchange," NBER Working Papers 8883, National Bureau of Economic Research, Inc.
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More about this item
KeywordsMiddle men; intermediation; market makers; search; market microstructure; bid-ask spread; Walrasian equilibrium;
- D4 - Microeconomics - - Market Structure, Pricing, and Design
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
- D6 - Microeconomics - - Welfare Economics
- G2 - Financial Economics - - Financial Institutions and Services
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
NEP fieldsThis paper has been announced in the following NEP Reports:
- NEP-ALL-2001-05-16 (All new papers)
- NEP-FMK-2001-05-16 (Financial Markets)
- NEP-MIC-2001-05-16 (Microeconomics)
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