Costly Information Intermediation as a Natural Monopoly
Author
Abstract
Suggested Citation
DOI: 10.26509/frbc-wp-201721
Download full text from publisher
Other versions of this item:
- Daniel Monte & Roberto Pinheiro, 2017. "Costly Information Intermediation as a Natural Monopoly," Working Papers 17-21R, Federal Reserve Bank of Cleveland.
References listed on IDEAS
- Pagano, Marco & Jappelli, Tullio, 1993.
"Information Sharing in Credit Markets,"
Journal of Finance, American Finance Association, vol. 48(5), pages 1693-1718, December.
- Jappelli, Tullio & Pagano, Marco, 1991. "Information Sharing in Credit Markets," CEPR Discussion Papers 579, C.E.P.R. Discussion Papers.
- Glenn Ellison, 1994.
"Cooperation in the Prisoner's Dilemma with Anonymous Random Matching,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 61(3), pages 567-588.
- Glen Ellison, 2010. "Cooperation in the Prisoner's Dilemma with Anonymous Random Matching," Levine's Working Paper Archive 631, David K. Levine.
- Liu, Qingmin & Skrzypacz, Andrzej, 2014. "Limited records and reputation bubbles," Journal of Economic Theory, Elsevier, vol. 151(C), pages 2-29.
- Paul R. Milgrom & Douglass C. North & Barry R. Weingast*, 1990. "The Role Of Institutions In The Revival Of Trade: The Law Merchant, Private Judges, And The Champagne Fairs," Economics and Politics, Wiley Blackwell, vol. 2(1), pages 1-23, March.
- Sergei Kovbasyuk & Giancarlo Spagnolo, 2016.
"Memory and Markets,"
EIEF Working Papers Series
1606, Einaudi Institute for Economics and Finance (EIEF), revised Oct 2017.
- Sergey Kovbasyuk & Giancarlo Spagnolo, 2021. "Memory And Markets," Working Papers w0284, New Economic School (NES).
- Sergei Kovbasyuk & Giancarlo Spagnolo, 2017. "Memory and Markets," CEIS Research Paper 415, Tor Vergata University, CEIS, revised 07 Dec 2017.
- Greif, Avner, 1993. "Contract Enforceability and Economic Institutions in Early Trade: the Maghribi Traders' Coalition," American Economic Review, American Economic Association, vol. 83(3), pages 525-548, June.
- Kocherlakota, Narayana R., 1998.
"Money Is Memory,"
Journal of Economic Theory, Elsevier, vol. 81(2), pages 232-251, August.
- Narayana R. Kocherlakota, 1996. "Money is memory," Staff Report 218, Federal Reserve Bank of Minneapolis.
- Luis Araujo & Raoul Minetti, 2011. "On The Essentiality Of Banks," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 52(3), pages 679-691, August.
- Takahashi, Satoru, 2010. "Community enforcement when players observe partners' past play," Journal of Economic Theory, Elsevier, vol. 145(1), pages 42-62, January.
- Ekmekci, Mehmet, 2011.
"Sustainable reputations with rating systems,"
Journal of Economic Theory, Elsevier, vol. 146(2), pages 479-503, March.
- Mehmet Ekmekci, 2010. "Sustainable Reputations with Rating Systems," Discussion Papers 1505, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- V Bhaskar & Caroline Thomas, 2019. "Community Enforcement of Trust with Bounded Memory," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 86(3), pages 1010-1032.
- Awaya, Yu, 2014. "Community enforcement with observation costs," Journal of Economic Theory, Elsevier, vol. 154(C), pages 173-186.
- Steffen Hoernig, 2007. "Bertrand Games and Sharing Rules," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 31(3), pages 573-585, June.
- Brown, Martin & Jappelli, Tullio & Pagano, Marco, 2009.
"Information sharing and credit: Firm-level evidence from transition countries,"
Journal of Financial Intermediation, Elsevier, vol. 18(2), pages 151-172, April.
- Martin Brown & Tullio Jappelli & Marco Pagano, 2007. "Information Sharing and Credit: Firm-Level Evidence from Transition Countries," CSEF Working Papers 178, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Brown, Martin & Jappelli, Tullio & Pagano, Marco, 2008. "Information Sharing and Credit: Firm-Level Evidence from Transition Countries," Proceedings of the German Development Economics Conference, Zurich 2008 3, Verein für Socialpolitik, Research Committee Development Economics.
- Martin Brown & Tullio Jappelli & Marco Pagano, 2008. "Information Sharing and Credit: Firm-Level Evidence from Transition Countries," Discussion Papers 3_2008, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
- Martin Brown & Tullio Jappelli & Marco Pagano, 2007. "Information Sharing and Credit: Firm-Level Evidence from Transition Countries," Working Papers 2007-15, Swiss National Bank.
- Pagano, Marco & Jappelli, Tullio & Brown, Martin, 2007. "Information Sharing and Credit: Firm-Level Evidence from Transition Countries," CEPR Discussion Papers 6313, C.E.P.R. Discussion Papers.
- Brown, Martin & Jappelli, Tullio & Pagano, Marco, 2008. "Information sharing and credit: Firm-level evidence from transition countries," CFS Working Paper Series 2008/34, Center for Financial Studies (CFS).
- Jappelli, Tullio & Pagano, Marco, 2002.
"Information sharing, lending and defaults: Cross-country evidence,"
Journal of Banking & Finance, Elsevier, vol. 26(10), pages 2017-2045, October.
- Tullio Jappelli & Marco Pagano, 1999. "Information Sharing, Lending and Defaults: Cross-Country Evidence," CSEF Working Papers 22, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Jappelli, Tullio & Pagano, Marco, 1999. "Information Sharing, Lending and Defaults: Cross-Country Evidence," CEPR Discussion Papers 2184, C.E.P.R. Discussion Papers.
- Araujo, Luis, 2004. "Social norms and money," Journal of Monetary Economics, Elsevier, vol. 51(2), pages 241-256, March.
- Ronel Elul & Piero Gottardi, 2015.
"Bankruptcy: Is It Enough to Forgive or Must We Also Forget?,"
American Economic Journal: Microeconomics, American Economic Association, vol. 7(4), pages 294-338, November.
- Piero Gottardi & Ronel Elul, 2007. "Bankruptcy: Is It Enough to Forgive or Must we Also Forget?," Working Papers 2007_23, Department of Economics, University of Venice "Ca' Foscari".
- Ronel Elul & Piero Gottardi, 2008. "Bankruptcy: Is it enough to Forgive or must we also Forget?," CESifo Working Paper Series 2313, CESifo.
- Ronel Elul & Piero Gottardi, 2011. "Bankruptcy: is it enough to forgive or must we also forget?," Working Papers 11-14, Federal Reserve Bank of Philadelphia.
- Ronel Elul & Piero Gottardi, 2008. "Bankruptcy: Is It Enough to Forgive or Must We Also Forget?," Economics Working Papers ECO2008/41, European University Institute.
- Ronel Elul & Piero Gottardi, 2007. "Bankruptcy: Is it enough to forgive or must we also forget?," Working Papers 07-10, Federal Reserve Bank of Philadelphia.
- S. Nageeb Ali & David A. Miller, 2016. "Ostracism and Forgiveness," American Economic Review, American Economic Association, vol. 106(8), pages 2329-2348, August.
- Joyee Deb, 2008. "Cooperation and Community Responsibility: A Folk Theorem for Repeated Matching Games with Names," Working Papers 08-24, New York University, Leonard N. Stern School of Business, Department of Economics.
- Michihiro Kandori, 1992.
"Social Norms and Community Enforcement,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 59(1), pages 63-80.
- Michi Kandori, 2010. "Social Norms and Community Enforcement," Levine's Working Paper Archive 630, David K. Levine.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Joyee Deb & Takuo Sugaya & Alexander Wolitzky, 2020. "The Folk Theorem in Repeated Games With Anonymous Random Matching," Econometrica, Econometric Society, vol. 88(3), pages 917-964, May.
- Daron Acemoglu & Alexander Wolitzky, 2015.
"Sustaining Cooperation: Community Enforcement vs. Specialized Enforcement,"
NBER Working Papers
21457, National Bureau of Economic Research, Inc.
- Daron Acemoglu & Alexander Wolitzky, 2015. "Sustaining Cooperation: Community Enforcement vs. Specialized Enforcement," Levine's Bibliography 786969000000001179, UCLA Department of Economics.
- Thomas Wiseman, 2015. "A Note on the Essentiality of Money under Limited Memory," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(4), pages 881-893, October.
- Sergei Kovbasyuk & Giancarlo Spagnolo, 2016.
"Memory and Markets,"
EIEF Working Papers Series
1606, Einaudi Institute for Economics and Finance (EIEF), revised Oct 2017.
- Sergei Kovbasyuk & Giancarlo Spagnolo, 2017. "Memory and Markets," CEIS Research Paper 415, Tor Vergata University, CEIS, revised 07 Dec 2017.
- Sergey Kovbasyuk & Giancarlo Spagnolo, 2021. "Memory And Markets," Working Papers w0284, New Economic School (NES).
- Bodoh-Creed, Aaron L., 2019. "Endogenous institutional selection, building trust, and economic growth," Games and Economic Behavior, Elsevier, vol. 114(C), pages 169-176.
- Araujo, Luis & Camargo, Braz, 2015. "Limited monitoring and the essentiality of money," Journal of Mathematical Economics, Elsevier, vol. 58(C), pages 32-37.
- Sanchez-Pages Santiago & Straub Stéphane, 2010.
"The Emergence of Institutions,"
The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-38, September.
- Santiago Sanchez-Pages & Stephane Straub, 2006. "The Emergence of Institutions," Edinburgh School of Economics Discussion Paper Series 148, Edinburgh School of Economics, University of Edinburgh.
- Sanchez-Pages, Santiago & Straub, Stéphane, 2008. "The Emergence of Institutions," IDEI Working Papers 545, Institut d'Économie Industrielle (IDEI), Toulouse.
- Kaya, Ayça & Roy, Santanu, 2022.
"Market screening with limited records,"
Games and Economic Behavior, Elsevier, vol. 132(C), pages 106-132.
- Ayca Kaya & Santanu Roy, 2020. "Market Screening with Limited Records," Departmental Working Papers 2006, Southern Methodist University, Department of Economics.
- Kamei, Kenju, 2020.
"Group size effect and over-punishment in the case of third party enforcement of social norms,"
Journal of Economic Behavior & Organization, Elsevier, vol. 175(C), pages 395-412.
- Kenju Kamei, 2018. "Group Size Effect and Over-Punishment in the Case of Third Party Enforcement of Social Norms," Working Papers 2018_04, Durham University Business School.
- Kamei, Kenju, 2018. "Group Size Effect and Over-Punishment in the Case of Third Party Enforcement of Social Norms," MPRA Paper 85713, University Library of Munich, Germany.
- Nava, Francesco & Piccione, Michele, 2011. "Efficiency in repeated two-action games with local monitoring," LSE Research Online Documents on Economics 58062, London School of Economics and Political Science, LSE Library.
- Sharma, Priyanka, 2017. "Is more information always better? A case in credit markets," Journal of Economic Behavior & Organization, Elsevier, vol. 134(C), pages 269-283.
- Balmaceda, Felipe & Escobar, Juan F., 2017.
"Trust in cohesive communities,"
Journal of Economic Theory, Elsevier, vol. 170(C), pages 289-318.
- Felipe Balmaceda & Juan Escobar, 2013. "Trust in Cohesive Communities," Working Papers 40, Facultad de Economía y Empresa, Universidad Diego Portales.
- Felipe Balmaceda & Juan Esconar, 2013. "Trust in Cohesive Communities," Documentos de Trabajo 295, Centro de Economía Aplicada, Universidad de Chile.
- Juan Escobar, 2008. "Cooperation and Self-Governance in Heterogeneous Communities," Discussion Papers 07-038, Stanford Institute for Economic Policy Research.
- Guilherme Carmona, 2021. "On the optimality of monetary trading," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 71(3), pages 1121-1160, April.
- Camera, Gabriele & Gioffré, Alessandro, 2014.
"Game-theoretic foundations of monetary equilibrium,"
Journal of Monetary Economics, Elsevier, vol. 63(C), pages 51-63.
- Camera, Gabriele & Gioffré, Alessandro, 2013. "Game-theoretic foundations of monetary equilibrium," SAFE Working Paper Series 32, Leibniz Institute for Financial Research SAFE.
- Joyee Deb, 2008. "Cooperation and Community Responsibility: A Folk Theorem for Repeated Matching Games with Names," Working Papers 08-24, New York University, Leonard N. Stern School of Business, Department of Economics.
- S. Nageeb Ali & David A. Miller, 2020. "Communication and Cooperation in Markets," Papers 2005.09839, arXiv.org.
- John Duffy & Huan Xie & Yong-Ju Lee, 2013.
"Social norms, information, and trust among strangers: theory and evidence,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 52(2), pages 669-708, March.
- John Duffy & Huan Xie & Yong-Ju Lee, 2008. "Social Norms, Information and Trust among Strangers: Theory and Evidence," Working Papers 08007, Concordia University, Department of Economics, revised Jul 2001.
- D. Aliprantis, C. & Camera, G. & Puzzello, D., 2007.
"Anonymous markets and monetary trading,"
Journal of Monetary Economics, Elsevier, vol. 54(7), pages 1905-1928, October.
- Aliprantis, C.D. & Camera, Gabriele & Puzzello, D., 2005. "Anonymous Markets and Monetary Trading," Purdue University Economics Working Papers 1179, Purdue University, Department of Economics.
- Charles M. Kahn & James McAndrews & William Roberds, 2005.
"Money Is Privacy,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(2), pages 377-399, May.
- Charles M. Kahn & James J. McAndrews & William Roberds, 2004. "Money is privacy," FRB Atlanta Working Paper 2004-18, Federal Reserve Bank of Atlanta.
More about this item
Keywords
Information; pricing; monopoly;All these keywords.
JEL classification:
- D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
- D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
NEP fields
This paper has been announced in the following NEP Reports:- NEP-COM-2017-12-03 (Industrial Competition)
- NEP-MIC-2017-12-03 (Microeconomics)
- NEP-MKT-2017-12-03 (Marketing)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedcwp:1721. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: 4D Library (email available below). General contact details of provider: https://edirc.repec.org/data/frbclus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.