Intermediaries in an electronic trade network [Extended Abstract]

Authors:
Floortje Alkemade;Han La Poutrè;Hans Amman
Affiliations:
The Netherlands National Research Center for Mathematics and Computing Science (CWI), Amsterdam, The Netherlands;The Netherlands National Research Center for Mathematics and Computing Science (CWI), Amsterdam, The Netherlands;Technical University Eindhoven, The Netherlands
Venue:
Proceedings of the 4th ACM conference on Electronic commerce
Year:
2003

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Abstract

We investigate whether intermediaries can make a profit in an information economy. We use evolutionary agent-based simulations to address this issue. We model a trade network game where boundedly rational consumers have to decide which links to form to sellers (profit maximizing producers or intermediaries). Our main conclusion is that intermediaries that have better knowledge about the market than the average consumer will continue to exist and make a profit if market dynamics are sufficiently complex.