English, Article edition: About Market Structure Klaus Kultti

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Physical Description
  • article
Language
  • English

Edition details

Title
  • About Market Structure
Author
  • Klaus Kultti
Physical Description
  • article
Notes
  • I study an economy where sellers choose locations, and buyers choose which location to visit. All sellers in one location correspond to the Walrasian market while each seller in a separate location corresponds to the standard random matching model. Trades are consummated in auctions, and it turns out that the Walrasian market is not an equilibrium market structure. Rather, the sellers choose to distribute themselves in several locations endogenously creating the imperfectness of markets. I determine the number of sellers per location in equilibrium as a function of the ratio of buyers to sellers. (Copyright: Elsevier)
  • Market structure; Matching; Auctions
  • RePEc:red:issued:v:6:y:2003:i:1:p:240-251
Language
  • English
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