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SUMMARY:MULTIPRODUCT INTERMEDIARIES - Andrew Rhodes\, Assistant Professor\
 , Toulouse School of Economics
DTSTART:20181031T123000Z
DTEND:20181031T140000Z
UID:TALK111337@talks.cam.ac.uk
CONTACT:Emily Brown
DESCRIPTION:This paper develops a new framework for studying multiproduct 
 intermediaries. We show that a multiproduct intermediary is profitable eve
 n when it does not improve efficiency in selling products.\nIn its optimal
  product selection\, it stocks high-value products exclusively to attract 
 consumers\, then profits by selling non-exclusive products which are relat
 ively cheap to buy from upstream suppliers. However\, relative to the soci
 al optimum\, the intermediary tends to be too big and stock too many produ
 cts exclusively.\nWe establish a link between product selection and produc
 t demand features such as size\, shape and elasticity. As an application o
 f the framework\, we also study the impact of direct-to-consumer sales by 
 upstream suppliers on the intermediary's product range and profitability.
LOCATION:Lecture Theatre 2\, Cambridge Judge Business School
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