Journal
RAND JOURNAL OF ECONOMICS
Volume 37, Issue 3, Pages 668-691Publisher
WILEY-BLACKWELL
DOI: 10.1111/j.1756-2171.2006.tb00037.x
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Funding
- Economic and Social Research Council [RES-538-28-1001] Funding Source: researchfish
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Many markets involve two groups of agents who interact via platforms, where one group's benefit from joining a platform depends on the size of the other group that joins the platform. I present three models of such markets: a monopoly platform; a model of competing platforms where agents join a single platform; and a model of competitive bottlenecks where one group joins all platforms. The determinants of equilibrium prices are (i) the magnitude of the cross-group externalities, (ii) whether fees are levied on a lump-sum or per-transaction basis, and (iii) whether agents join one platform or several platforms.
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