Search, matching, and self-organization of a marketplace

Ding Ke, Gokan Toshitaka and Zhu Xiwei

No 396, IDE Discussion Papers from Institute of Developing Economies, Japan External Trade Organization(JETRO)

Abstract: In many developing countries, clusters of small shops are the typical market-place. We investigate an economic model in which, between buyers and sellers in a marketplace, a circular causality including the search process produces agglomeration forces, given the initial location of the marketplace location exogenously in a linear city. We conclude that initial number of buyers and sellers is important in forming a large marketplace.

Keywords: Microeconomics; Circular causality; Market place (search for similar items in EconPapers)
JEL-codes: D04 R12 (search for similar items in EconPapers)
Date: 2013-03-01
New Economics Papers: this item is included in nep-ure
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Published in IDE Discussion Paper = IDE Discussion Paper, No. 396. 2013-03-01

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