TRADE AND MARKET THICKNESS: EFFECTS ON ORGANIZATIONS
成果类型：
Article
署名作者：
McLaren, John
署名单位：
University of Virginia; National Bureau of Economic Research
刊物名称：
JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
ISSN/ISSBN：
1542-4766
DOI：
10.1162/154247603322390964
发表日期：
2003
页码：
328-336
关键词：
摘要：
Globalization, by raising the number of buyers available to each seller and the number of sellers available to each buyer, raises the thickness, or the effective number of participants, of every market. Market thickness can have subtle effects on incentives and organizations, alleviating hold-up problems, resulting in less vertical integration, more informal contracting, and more cooperative and innovative relationships with subcontractors. However, it can also weaken long-run relationships, distorting relationship-specific investments and risk-sharing. This paper surveys the theory and empirical evidence, indicating when market thickness helps and when it hurts. (JEL: F15, L14, L22)
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