THE INFORMATIONAL ROLE OF DISTRIBUTION SYSTEMS IN THE MARKET ECONOMY

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概要

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• This paper investigates whether and to what extent the presence of distributors affects the working and performance of the market economy. Working with a simple Stackelberg leader-follower model, we show that the entry of an informed distributor brings about not only extra distribution costs (the intermediation effect), but also acquisition of market information (the information effect). If the demand uncertainty is relatively large and hence the information effect overpowers the intermediation effect, then the market economy with distribution channels performs better than the distribution-less economy. Therfore, distributive intermediation should be a natural response to informational asymmetry.

• 日本地域学会の論文

著者

• SAKAI Yasuhiro

  Institute of Social Sciences University of Tsukuba

• SAKAKI Keisuke

  Institute of Social Sciences University of Tsukuba

関連論文

• THE INFORMATIONAL ROLE OF DISTRIBUTION SYSTEMS IN THE MARKET ECONOMY

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