双边投资的双边市场乘数效应

D. Dizdar, B. Moldovanu, Nora Szech
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引用次数: 4

摘要

有限双边市场中的代理人进行昂贵的投资,然后根据这些投资进行分类匹配。除了表明互补类型外,投资还为合作伙伴带来利益。我们阐明了均衡投资行为的定量性质。双边外部利益产生投资乘数效应。这种乘数效应以一种复杂的方式取决于代理人对自己在自己市场中的地位的不确定性,以及他们对潜在合作伙伴的类型和投资的不确定性。我们研究了乘数效应如何取决于市场规模,以及它如何与其他重要因素(如投资成本和竞争更理想的合作伙伴所引起的信号激励)相互作用。我们用我们的结果来描述大市场中的均衡效用。对于小型市场,我们的结果导致了滞留问题的边界。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
The Multiplier Effect in Two-Sided Markets with Bilateral Investments
Agents in a finite two-sided market make costly investments and are then matched assortatively based on these investments. Besides signaling complementary types, investments also generate benefits for partners. We shed light on quantitative properties of the equilibrium investment behavior. The bilateral external benefits induce an investment multiplier effect. This multiplier effect depends in a complex way on agents' uncertainty about their rank within their own market side and on their uncertainty about the types and investments of potential partners. We study how the multiplier effect depends on market size and how it interacts with other important factors such as the costs of investment and the signaling incentives induced by competition for more desirable partners. We use our results to characterize equilibrium utilities in large markets. For small markets, our results lead to bounds on the hold-up problem.
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