Medieval matching markets

Lars Börner and Daniel Quint
Authors registered in the RePEc Author Service: Lars Boerner

No 2010/31, Discussion Papers from Free University Berlin, School of Business & Economics

Abstract: This paper studies the market microstructure of pre-industrial Europe. In particular we investigate the institution of the broker in markets and fairs, and develop a unique data set of approximately 1100 sets of brokerage rules in 42 merchant towns in Central and Western Europe from the late 13th to the end of the 17th century. We show that towns implemented brokerage as an efficient matchmaking institution in a two-sided market problem. Furthermore, towns differentiated seller-friendly from buyer-friendlier matching mechanisms. We show that the decision to implement matchmaking mechanisms, and whether these mechanisms would be buyer- or seller friendly, depends on the products in question and the stated policy goals of the town, as well as time and geographic variables.

Keywords: preindustrial markets; market microstructure; efficient matching (search for similar items in EconPapers)
JEL-codes: D4 N23 (search for similar items in EconPapers)
Date: 2010
New Economics Papers: this item is included in nep-gth and nep-his
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Related works:
Journal Article: MEDIEVAL MATCHING MARKETS (2023)
Working Paper: Medieval matching markets (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:fubsbe:201031

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