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New Developments in Intermediation Theory: on side effects caused by innovation and efficiency improvements of intermediation technology

Research Project

Project/Area Number 22K20161
Research Category

Grant-in-Aid for Research Activity Start-up

Allocation TypeMulti-year Fund
Review Section 0107:Economics, business administration, and related fields
Research InstitutionKyoto University

Principal Investigator

Watanabe Makoto  京都大学, 経済研究所, 教授 (40899811)

Project Period (FY) 2022-08-31 – 2024-03-31
Project Status Completed (Fiscal Year 2023)
Budget Amount *help
¥2,860,000 (Direct Cost: ¥2,200,000、Indirect Cost: ¥660,000)
Fiscal Year 2023: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2022: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Keywords取引仲介の経済学 / プラットフォーム / ミドルマン / 評判 / 電子取引 / 市場の透明性 / サーチモデル / レモンの市場 / 檸檬の市場 / 取引仲介 / サーチ中毒
Outline of Research at the Start

最近のオンライン・プラットフォームでは、アマチュア仲介業者が氾濫し、過剰広告にあふれ、サーチ中毒ともよべる現象が起きている。本研究では、仲介スキルを代替する評判メカニズム、プラットフォーム・モードという新たな仲介モード、コロナ禍に代表される販売制約という、新しい3要因を明示的に考慮したオリジナルの経済モデルを提示し、なぜこうした現象が起こるのか、それは経済学的にみて政策介入が必要なものなのか、もし必要だとしたらどのような政策が最適かを分析する。そして消費者保護の観点からみて、仲介ビジネスへの望ましい参入規制や、構造変化を加味した安定化政策、産業規制について新しい視点を提供する。

Outline of Final Research Achievements

To summarize the research achievements during the funding period, on Project 1 ``Instability of intermediated and intermediation mode," I developed thepretical models that enable us to analyze: the endogenous formation of market structure from the perspective of the selection of intermediation modes; the conditions under which instability occurs, in particular the mechanism by which reputation substitutes for intermediary skills; the relationship between the emergence and collapse of reputation mechanisms in a platform, and the frequency and scale of such instabilities. On Project 2: ``Information overload and the intermediated market that induces search addiction,'' I analyzed the mechanisms by which excessive search occurs on platforms, its efficiency property, and the relationship between sales constraints and price mechanisms in intermediated search markets.

Academic Significance and Societal Importance of the Research Achievements

取引仲介の理論として、レモンの市場における評判や市場の不安定性、また、サーチ市場を効率化する副産物としての情報過多やサーチ中毒を明示的に考慮したモデルは、既存研究では今のところ開発されておらず、本研究は学術的意義を有している。現実には、取引仲介という経済行為には必ずしも好意的に受け取られない帰結が伴う。さらに、これら諸問題は取引仲介の技術革新によって深刻化するケースも多い。このような問題意識からモノやサービスの仲介についての経済分析を行うことで、なぜこうした現象が起こるのか、それは政策介入が必要なものなのか、もし必要だとしたらどのような政策がベストであろうかを考えている点で社会的意義がある。

Report

(3 results)
  • 2023 Annual Research Report   Final Research Report ( PDF )
  • 2022 Research-status Report
  • Research Products

    (9 results)

All 2024 2023 2022

All Journal Article (4 results) (of which Int'l Joint Research: 4 results,  Open Access: 4 results,  Peer Reviewed: 3 results) Presentation (5 results) (of which Int'l Joint Research: 1 results)

  • [Journal Article] Strategic limitation of market accessibility: Search platform design and welfare2024

    • Author(s)
      Teh Christopher、Wang Chengsi、Watanabe Makoto
    • Journal Title

      Journal of Economic Theory

      Volume: 216 Pages: 105798-105798

    • DOI

      10.1016/j.jet.2024.105798

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] Price Equilibrium with Selling Constraints2023

    • Author(s)
      Jose Luis Moraga Gonzalez、Makoto Watanabe
    • Journal Title

      CESifo Working Paper

      Volume: 10583 Pages: 1-45

    • Related Report
      2023 Annual Research Report
    • Open Access / Int'l Joint Research
  • [Journal Article] Marketmaking Middlemen2023

    • Author(s)
      Gautier Pieter、Hu Bo、Watanabe Makoto
    • Journal Title

      The RAND Journal of Economics

      Volume: 54 Issue: 1 Pages: 83-103

    • DOI

      10.1111/1756-2171.12431

    • Related Report
      2023 Annual Research Report 2022 Research-status Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] Rational bubbles and middlemen2022

    • Author(s)
      Awaya Yu、Iwasaki Kohei、Watanabe Makoto
    • Journal Title

      Theoretical Economics

      Volume: 17 Issue: 4 Pages: 1559-1587

    • DOI

      10.3982/te4975

    • Related Report
      2022 Research-status Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Presentation] Strategic limitation of market accessibility: search platform design and welfare2023

    • Author(s)
      渡辺誠
    • Organizer
      応用ミクロワークショップ
    • Related Report
      2023 Annual Research Report
  • [Presentation] Directed search on a platform: Meet fewer to match more2023

    • Author(s)
      渡辺誠
    • Organizer
      Contract Theory Workshop
    • Related Report
      2023 Annual Research Report
  • [Presentation] Directed Search on a Platform: Meet Fewer to Match More?2023

    • Author(s)
      渡辺誠
    • Organizer
      Contract theory workshop
    • Related Report
      2022 Research-status Report
  • [Presentation] Intermediation and Reputation2022

    • Author(s)
      渡辺誠
    • Organizer
      SWET2022
    • Related Report
      2022 Research-status Report
  • [Presentation] Directed Search on a Platform: Meet Fewer to Match More?2022

    • Author(s)
      渡辺誠
    • Organizer
      Singapore Management University Microeconomic Seminar
    • Related Report
      2022 Research-status Report
    • Int'l Joint Research

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Published: 2022-09-01   Modified: 2025-01-30  

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