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Table of Contents
Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Chapter 13
Chapter 14
Chapter 15
Chapter 16
Chapter 17
Chapter 18
Chapter 19

Chapter 19: Market Making
Returns to Scale

All things being equal, large exchange sites should be more valuable to both buyers and sellers than small ones. Therefore, the bigger an exchange gets, the bigger it gets.

We might expect a huge pioneer advantage to emerge for someone. That someone might be Microsoft which has already set up an elegant searching page for automotive classifieds.


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