Randall Wright - Böcker

Surveys the literature on middlemen (i.e., intermediation in exchange) reviewing, extending and consolidating key developments in the field. This is important because intermediated trade is common in reality but absent in standard general equilibrium theory. The authors focus on research using search theory. In various models, agents may act as middlemen when they are good at search, bargaining, recognizing quality, storing inventories, using credit, etc. The theory applies to markets for goods, inputs or assets. The authors discuss versions with indivisible or divisible goods, fixed or endogenous participation, stationary and dynamic equilibria, and some implications for efficiency and volatility.

Surveys the literature on middlemen (i.e., intermediation in exchange) reviewing, extending and consolidating key developments in the field. This is important because intermediated trade is common in reality but absent in standard general equilibrium theory. The authors focus on research using search theory. In various models, agents may act as middlemen when they are good at search, bargaining, recognizing quality, storing inventories, using credit, etc. The theory applies to markets for goods, inputs or assets. The authors discuss versions with indivisible or divisible goods, fixed or endogenous participation, stationary and dynamic equilibria, and some implications for efficiency and volatility.

Skilley, an alley cat with an embarrassing secret, longs to escape his hard life dodging fishwives' brooms and carriage wheels and trade his damp alley for the warmth of the Cheshire Cheese Inn. When he learns that the innkeeper is looking for a new mouser, Skilley comes up with an audacious scheme to install himself in the famous tavern. Once established in the inn, Skilley strikes a bargain with Pip, the intelligent mouse-resident, and his fellow mice. Skilley protects the mice and the mice in turn give to Skilley the delectable Cheshire cheese of the inn. Thus begins a most unlikely alliance and friendship. The cat and mouse design a plan to restore Maldwyn wounded raven and faithful guard in the service of Queen Victoria to his rightful place in The Tower, but first they must contend with a tyrannical cook, a mouse-despising barmaid, and an evil tomcat named Pinch. Will the famous author suffering from serious writer's block who visits the Cheshire Cheese pub each day be able to help?