Natural Oligopoly in Intermediated Markets

Thomas Gehrig

No 1027, Discussion Papers from Northwestern University, Center for Mathematical Studies in Economics and Management Science

Abstract: ) and convergence to a fragmented industrial structure does not obtain as the economy grows large. In particular, we find a natural oligopoly in which in general there are three larger intermediaries of similar size and one smaller intermediary occupying niche markets. Nevertheless, as the number of islands increases, spreads shrink to zero and almost competitive allocations arise.

Keywords: intermediation; network competition; vertical product differentiation; industrual structure; natural oligopoly (search for similar items in EconPapers)
JEL-codes: D43 L11 L13 (search for similar items in EconPapers)
Date: 1993-01
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Working Paper: Natural Oligopoly in Intermediated Markets (1990)
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