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Frictions in product markets

Gavazza, Alessandro ORCID: 0000-0001-9236-5813 and Lizzeri, Alessandro (2021) Frictions in product markets. In: Ho, Kate, Hortaçsu, Ali and Lizzeri, Alessandro, (eds.) Handbook of Industrial Organization. Handbooks in Economics,4. Elsevier (Firm), Amsterdam, NL, 433 - 484. ISBN 9780323915137

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Identification Number: 10.1016/bs.hesind.2021.11.006


We focus on markets with frictions, such as transaction costs, asymmetric information, search and matching frictions. We discuss how such frictions affect allocations, favor the emergence of intermediaries or dealers, and potentially create market power. Our focus is mostly on markets with many participants rather than on transactions that are bilateral or involve a small number of players.

Item Type: Book Section
Official URL:
Additional Information: © 2021 Elsevier B.V.
Divisions: Economics
Subjects: H Social Sciences > HF Commerce
H Social Sciences > HD Industries. Land use. Labor
Date Deposited: 21 Jan 2022 08:57
Last Modified: 14 Jun 2024 06:57

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