| Description |
1 online resource (17 pages) |
| Series |
IMF working paper, 2227-8885 ; WP/04/179 |
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IMF working paper ; WP/04/179.
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| Contents |
""Contents""; ""I. INTRODUCTION""; ""II. MIDDLEMAN BEHAVIOR""; ""III. SIMULATION RESULTS""; ""A. Changing the Mean of Endowments""; ""B. Changing the Mean of Order Size""; ""C. Changing the Mean of Valuations""; ""D. Changing the Standard Deviation of Valuations""; ""IV. CONCLUSION""; ""REFERENCES"" |
| Summary |
This paper examines the role of middlemen (brokers) in an imperfect secondary market for quota licenses. Middlemen facilitate trade when markets are thin, as potential buyers and sellers find it difficult to meet and transact directly. However, in thin markets, middlemen also have the ability to influence the terms on which trades occur, and the wedge they create between the buying and selling price limits the extent to which they facilitate trade. We develop and simulate a model of quota broker behavior to examine their welfare implications |
| Notes |
"September 2004." |
|
At head of title: IMF Institute |
| Bibliography |
Includes bibliographical references |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
| Subject |
Broker
|
| Form |
Electronic book
|
| Author |
Imai, Susumu, author.
|
|
Krishna, Kala, author.
|
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Mukhopadhyay, Abhiroop, author.
|
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Tan, Lin Hui, author
|
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International Monetary Fund, issuing body.
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IMF Institute.
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| ISBN |
1282050923 |
|
9781282050921 |
|
9781451904420 |
|
1451904428 |
|
9781451859065 |
|
1451859066 |
| ISSN |
2227-8885 |
|
