A Price Competition Experiment Between Middlemen: Linear Function Case

Kazuhito Ogawa, Kouhei Iyori and Sobei H. Oda
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Kazuhito Ogawa: Hiroshima City University
Kouhei Iyori: Hiroshima Shudo University
Sobei H. Oda: Kyoto Sangyo University

A chapter in Developments on Experimental Economics, 2007, pp 245-250 from Springer

Abstract: Abstract A middleman is important; he/she purchases goods from suppliers for resale, creates and manages markets, seeks out suppliers, finds and encourages buyers, selects bid and ask prices, and holds inventories to provide liquidity or make services and goods available. However, economic theories such as the general equilibrium theory have not examined the role of a middleman.

Keywords: Price Competition; Competitive Equilibrium; Competitive Price; Market Microstructure; Competitive Prex (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-540-68660-6_27

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DOI: 10.1007/978-3-540-68660-6_27

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