A model of market-making

@inproceedings{Vriend2001AMO,
  title={A model of market-making},
  author={Nicolaas J. Vriend and Pierre Dehez and Peter J. Hammond and Esther Hauk and Maarten Janssen and Alan Kirman},
  year={2001}
}
The two essential features of a decentralized economy taken into account are, first, that individual agents need some information about other agents in order to meet potential trading partners, which requires some communication or interaction between these agents, and second, that in general agents will face trading uncertainty. We consider trade in a homogeneous commodity. Firms decide upon their effective supplies, and may create their own markets by sending information signals communicating… CONTINUE READING

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