Frictions in product markets

; and Lizzeri, Alessandro (2021) Frictions in product markets. In: Handbook of Industrial Organization. Handbooks in Economics, 4 . Elsevier (Firm), Amsterdam, NL, 433 - 484. ISBN 9780323915137

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We focus on markets with frictions, such as transaction costs, asymmetric information, search and matching frictions. We discuss how such frictions affect allocations, favor the emergence of intermediaries or dealers, and potentially create market power. Our focus is mostly on markets with many participants rather than on transactions that are bilateral or involve a small number of players.

Item Type	Chapter
Keywords	transaction costs,asymmetric information,search frictions,matching frictions,intermediaries,market power
Departments	Economics
DOI	10.1016/bs.hesind.2021.11.006
Date Deposited	21 Jan 2022 08:57
URI	https://researchonline.lse.ac.uk/id/eprint/113495

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