TY  - JOUR
TI  - A theory of buyer-seller networks
T2  - American Economic Review
IS  - 3
AB  - A new model of exchange is introduced: networks, rather than markets, 
of buyers and sellers. It begins with the empirically motivated 
premise that a buyer and seller must have a relationship 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. 
AU  - Kranton, Rachel E.
AU  - Minehart, Deborah F.
UR  - http://ecsocman.hse.ru/text/19017618/
PY  - 2001
SP  - 485-508
M2  - 485
VL  - 91
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LA  - EN
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ER  -