Antrās, Pol. <br/><br/>
Intermediation and Economic Integration / 
Pol Antrās, Arnaud Costinot. 
 - Cambridge, Mass.  National Bureau of Economic Research  2010. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w15751 .
 - Working Paper Series (National Bureau of Economic Research)  no. w15751. .
<br/><br/> February 2010. 
<br/><br/> The theory of international trade has paid scant attention to market institutions. Neither neoclassical theory nor new trade models typically specify the process by which supply and demand meet. Yet in the real world, intermediaries play a central role in materializing the gains from exchange outlined by standard trade theories. In Antrās and Costinot (2010), we have developed a stylized but explicit model of intermediation in trade. In this short paper, we present a variant of this model that illustrates the potential role of intermediaries in facilitating the realization of the gains from trade. 
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