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541期 11月21日:Trading in Networks: Theory and Experiments...

541期 11月21日:Trading in Networks: Theory and Experiments(Syngjoo Choi, University College London)
来源:经济学院

【主讲】Syngjoo Choi(University College London)

【主题】Trading in Networks: Theory and Experiments

【时间】2014年11月21日(周五) 15:30-17:00

【地点】上海财经大学经济学院楼801室

【语言】英文

【摘要】 We propose a model of posted prices in networks. The model maps traditional concepts of market power, competition and double marginalization into networks, allowing for the study of pricing in complex structures of intermediation such as supply chains, transportation and communication networks and financial brokerage. We provide a complete characterization of equilibrium prices. Our experiments complement our theoretical work and point to node criticality as an organizing principle for understanding pricing, efficiency and the division of surplus in networked markets.