The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
Market Microstructure and Intermediation
Open accessAbstract
This paper emphasizes the important role played by intermediaries in the economy, including wholesalers, retailers, and financial firms. The paper defines an intermediary as an economic agent that purchases from suppliers for resale to buyers or that helps buyers and sellers meet and transact. Intermediaries coordinate transactions and provide the institutions of exchange that constitute market microstructure. Intermediaries set prices, manage inventories, coordinate exchange, and provide information through guarantees and delegated monitoring. These crucial activities help to explain how markets attain equilibrium prices and quantities. The paper suggests that the study of intermediation should be incorporated into mainstream economic analysis.
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Citations
Cites
Coase, R. H. (1937) · Economica · doi:10.1111/j.1468-0335.1937.tb00002.x · Cited by 23,972
The Market for "Lemons": Quality Uncertainty and the Market Mechanism
Akerlof, G. A. (1970) · The Quarterly Journal of Economics · doi:10.2307/1879431 · Cited by 23,016
Financial intermediation and delegated monitoring
Diamond, D. W. (1984) · The Review of Economic Studies · doi:10.2307/2297430 · Cited by 8,476
Financial Intermediary-Coalitions
Boyd, J. H., & Prescott, E. C. (1985) · doi:10.21034/sr.87 · Cited by 1,440
Cited by
Organizing K-Pop: Emergence and Market Making of Large Korean Entertainment Houses, 1980–2010
Shin, S. I., & Kim, L. (2013) · East Asia · doi:10.1007/s12140-013-9200-0 · Cited by 57
Metadata
- Authors
- Spulber, D. F.
- Venue
- Journal of Economic Perspectives
- Publisher
- American Economic Association
- Published
- 1996-08-01
- Volume
- 10
- Issue
- 3
- Pages
- 135-152
- ISSN
- 0895-3309 (ISSN-L)
- OpenAlex
- W2163588977
- Cited by
- 410
- References
- 4
- FWCI
- 10.07
- Type
- journal article
- Language
- en
- Open access
- bronze
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- CoChat. (2026). Citation check: Market Microstructure and Intermediation. https://app.cochat.ai/papers/10.1257/jep.10.3.135
- The paper
- Spulber, D. F. (1996). Market Microstructure and Intermediation. Journal of Economic Perspectives. https://doi.org/10.1257/jep.10.3.135
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
