RIEB Seminar
| Date&Time | Tuesday, December 20, 2016, 3:30pm-5:00pm |
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| Place | Seminar Room at RIEB (Kanematsu Memorial Hall, 1st Floor) |
| Intended Audience | Faculties, Graduate Students and People with Equivalent Knowledge |
| Language | Japanese |
| Note | Copies of the paper will be available at Office of Promoting Research Collaboration. |
3:30pm-5:00pm
| Speaker | Makoto WATANABE |
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| Affiliation | Department of Economics, Vrije Universiteit Amsterdam / Research Fellow, Tinbergen Institute |
| Topic | Energy R&D and Climate Change: An Endogenous Growth and Technology Model |
| Abstract | This paper develops a model in which market structure is determined endogenously by the choice of intermediation mode. We consider two representative business modes of intermediation that are widely used in real-life markets: one is a middleman mode where an intermediary holds inventories which he stocks from sellers for the purpose of reselling to buyers; the other is a market-making mode where an intermediary o ers a platform for buyers and sellers to trade with each other. We show that a marketmaking middleman, who adopts the mixture of these two intermediation modes, can emerge in a directed search equilibrium. |