Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/221384
Authors: 
Gehrig, Thomas
Year of Publication: 
1993
Series/Report no.: 
Discussion Paper 1027
Abstract: 
) and convergence to a fragmented industrial structure does not obtain as the economy grows large. In particular, we find a natural oligopoly in which in general there are three larger intermediaries of similar size and one smaller intermediary occupying niche markets. Nevertheless, as the number of islands increases, spreads shrink to zero and almost competitive allocations arise.
Subjects: 
intermediation
network competition
vertical product differentiation
industrual structure
natural oligopoly
JEL: 
D43
L11
L13
Document Type: 
Working Paper

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