MGT 621 – Microeconomics

9. Markets and Intermediaries

Course Page Previous Lecture Next Lecture

       Lecture Notes (Overheads Used In Class)

· Lecture 9 – Slides

Reading (Preparation)

· N/A (read slides carefully)

Questions (Preparation)

· What is an intermediary? Provide examples (online and offline).

· What are common market imperfections? Provide examples.

· How can an intermediary fix those imperfections, at least partially? Provide examples.

Background Reading (for future reference only)

· Spulber, D.F. (1999) Market Microstructure: Intermediaries and the Theory of the Firm, Cambridge University Press, Cambridge, UK.

· Weber, T.A., Zheng, Z. (2007) “A Model of Search Intermediaries and Paid Referrals,” Information Systems Research, Vol. 18, No. 4, pp. 414—436.

· Weber, T.A. (2014) “Intermediation in a Sharing Economy: Insurance, Moral Hazard, and Rent Extraction,” Journal of Management Information Systems, Vol. 31, No. 3, pp. 35—71.