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A theory of buyer-seller networks

dc.contributor.author Kranton, RE
dc.contributor.author Minehart, DF
dc.date.accessioned 2010-03-09T15:23:12Z
dc.date.issued 2001-06-01
dc.identifier.issn 0002-8282
dc.identifier.uri https://hdl.handle.net/10161/1735
dc.description.abstract This paper introduces a new model of exchange: networks, rather than markets, of buyers and sellers. It begins with the empirically motivated premise that a buyer and seller must have a relationship, a "link," to exchange goods. Networks - buyers, sellers, and the pattern of links connecting them - are common exchange environments. This paper develops a methodology to study network structures and explains why agents may form networks. In a model that captures characteristics of a variety of industries, the paper shows that buyers and sellers, acting strategically in their own self-interests, can form the network structures that maximize overall welfare.
dc.format.mimetype application/pdf
dc.language.iso en_US
dc.publisher American Economic Association
dc.relation.ispartof American Economic Review
dc.title A theory of buyer-seller networks
dc.type Journal article
duke.contributor.id Kranton, RE|0445327
pubs.begin-page 485
pubs.end-page 508
pubs.issue 3
pubs.organisational-group Duke
pubs.organisational-group Duke Population Research Center
pubs.organisational-group Duke Population Research Institute
pubs.organisational-group Economics
pubs.organisational-group Sanford School of Public Policy
pubs.organisational-group Trinity College of Arts & Sciences
pubs.publication-status Published
pubs.volume 91


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