Price Coherence and Excessive Intermediation *
نویسندگان
چکیده
منابع مشابه
Price Coherence and Excessive Intermediation
Suppose an intermediary provides a benefit to buyers when they purchase from sellers using the intermediary’s technology. We develop a model to show that the intermediary would want to restrict sellers from charging buyers more for transactions it intermediates. With this restriction an intermediary can profitably raise demand for its services by eliminating any extra price buyers face for purc...
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Suppose an intermediary provides a benefit to buyers when they purchase from sellers using the intermediary’s technology. We develop a model to show that the intermediary will want to restrict sellers from charging buyers more for transactions it intermediates. We show that this restriction can reduce consumer surplus and welfare, sometimes to such an extent that the existence of the intermedia...
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ژورنال
عنوان ژورنال: The Quarterly Journal of Economics
سال: 2015
ISSN: 0033-5533,1531-4650
DOI: 10.1093/qje/qjv018