【鸿利官方开户登录聚焦▪鸿利官方开户登录预告】鸿利正规注册学系双周鸿利官方开户登录鸿利官方开户登录（二十二）

报告摘要

This paper studies vertical foreclosure issue in platforms characterized by bilateral cross-group network externalities. I focus on an environment where the monopolistic platform and downstream sellers face uncertainty over the gains from trade at the contracting stage. As the random shock is non-contractible, contracting creates friction which distorts the platform's pricing structure. By contrast, vertical integration mitigates this problem by allowing the platform to incorporate the random shock in consumer pricing. Due to the interaction between transaction friction and cross-group network externalities, I find that vertical integration could reduce the platform's incentive of foreclosure.

为了进一步加强对传统优势学科政治鸿利正规注册学、鸿利正规注册史和鸿利正规注册思想史的研究交流，鸿利正规注册学系开展“双周鸿利官方开户登录鸿利官方开户登录”，邀请鸿利正规注册学系和其他系、所、中心师生介绍前沿科研成果，为广大鸿利正规注册学子打造一个高品质的鸿利官方开户登录交流平台。鸿利官方开户登录研讨方向主要突出政治鸿利正规注册学、鸿利正规注册史和鸿利正规注册思想史，兼容发展鸿利正规注册学与应用微观等方向，立足中国国情，讲好中国故事。

The Economics Biweekly Academic Forum is organized by the department of economics in Xiamen University. This forum mainly discusses the topics in the field of political economics, economic history and history of economic thought, with the aim to strengthen the communication between these traditional disciplines and the state of the art in the literature. This forum invites speakers and research students from various departments, which is a high quality platform for academic communication and research discussion. The forum also provides an excellent stage to tell Chinese economics story with precise academic language and Chinese culture.