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- W1975394562 abstract "This paper introduces a new model of exchange: networks, rather than markets, of buyers and sellers. It begins with the empirically motivated premise that a buyer and seller must have a relationship, a “link,” to exchange goods. Networks — buyers, sellers, and the pattern of links connecting them — are common exchange environments. This paper develops a methodology to study network structures and explains why agents may form networks. In a model that captures characteristics of a variety of industries, the paper shows that buyers and sellers, acting strategically in their own self-interests, can form the network structures that maximize overall welfare." @default.
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- W1975394562 date "2003-01-01" @default.
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- W1975394562 title "A Theory of Buyer-Seller Networks" @default.
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- W1975394562 doi "https://doi.org/10.1007/978-3-540-24790-6_16" @default.
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