January 1, 1993

Middlemen as Experts

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I show that a middleman can be welfare improving in all equilibria in a quite general bargaining model when adverse selection is present. Conditions are determined for when a middleman is most likely to be in a market. Examples of the theory are also presented.

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Gary Biglaiser (Fri,) studied this question.

www.synapsesocial.com/papers/69de9702210a0977fce94d47 — DOI: https://doi.org/10.2307/2555758

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Direct and Indirect Sale of Information· 1990 · 277 citations
Sequential Bargaining with Correlated Values· 1989 · 100 citations

Middlemen as Experts

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