Middlemen in search equilibrium : a survey / Grace Xun Gong, Ziqi Qiao, Randall Wright

Format:

Book

Author/Creator:

Gong, Grace Xun, author.

Qiao, Ziqi, author.

Wright, Randall, 1956- author.

Series:

Cambridge elements. Elements in money and banking

Cambridge elements. Elements in money and banking, 2977-7585

Language:

English

Subjects (All):

Intermediation (Finance).

Physical Description:

1 online resource : illustrations

Place of Publication:

Cambridge : Cambridge University Press, 2026

Summary:

"Surveys the literature on middlemen (i.e., intermediation in exchange) reviewing, extending and consolidating key developments in the field. This is important because intermediated trade is common in reality but absent in standard general equilibrium theory. The authors focus on research using search theory. In various models, agents may act as middlemen when they are good at search, bargaining, recognizing quality, storing inventories, using credit, etc. The theory applies to markets for goods, inputs or assets. The authors discuss versions with indivisible or divisible goods, fixed or endogenous participation, stationary and dynamic equilibria, and some implications for efficiency and volatility"-- Cambridge Core

Contents:

A simple model

Extending the simple model

Multiplicity and dynamics

Private information

Intermediation chains and bubbles

Inventories and directed search

Intermediation in finance

Money, credit, and middlemen

Other contributions

Notes:

Includes bibliographical references

Online resource; title from PDF title page (Cambridge Core, viewed May 13, 2026)

Other Format:

Print version: Gong, Grace Xun Middlemen in search equilibrium

ISBN:

9781009700283

1009700286

9781009700313

1009700316

OCLC:

1579000170

Publisher Number:

CIPO000355819

Access Restriction:

Restricted for use by site license