Trade Pattern and Professional Middlemen

Xiaokai Yang and Wai-Man Liu
Additional contact information
Wai-Man Liu: University of New South Wales, Australia

Chapter 5 in Inframarginal Economics, 2008, pp 111-133 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:Why Can the Professional Middleman Make Money? What Are the Determinants of Business Success?A Model with Trading Activities and Heterogeneous ParametersThe Decision to Be a Professional MiddlemanMarket Structures and Corner EquilibriaBasic vs. nonbasic structuresDefinitions of corner and general equilibriaThe Equilibrium Size of the Network of Division of LaborEmergence of Professional Middlemen and a Hierarchical Structure of Economic OrganizationDeterminants of Trade Pattern and Successful BusinessFurther ReadingQuestionsExercises

Keywords: Inframarginal Economics; Inframarginal Analysis; Division of Labor; Specialization; Network Effects; Smithian Framework; Transaction Costs (search for similar items in EconPapers)
JEL-codes: O30 (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789812837929_0005 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789812837929_0005 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789812837929_0005

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().