Charging Mechanism Of Informational Intermediary Organization: Asymmetric Information And The One-way Toll

The free market economy is abstracted as only producers and consumers in theneoclassical textbooks, but in the real economy, producers and consumers complete thetransaction through a variety of market intermediary organizations. Intermediaryorganizations on the market can be divided into two categories: trading intermediaryorganizations and information intermediary organizations. The existing literature relatedseldom on the information intermediary organizations’ charge, this paper attempts touncover the "black box" of intermediary organization charges.Commodities on the market have many information, Consumers must spend time andcosts to understand these goods, if they didn’t spend sufficient time, they can’t understandthe value of the goods, and they are willing to pay a lower purchase price. There areinformation intermediary organizations on this market at the same time; its function is tohandle the information, to reduce the cost of consumers to understand the products.Through using intermediary organizations, consumers can fully understand the products ina short time, and willing to pay a higher price. For consumers, all merchandise advertisingis the same, marginal utility of advertising is zero, so they do not want to pay for theinformation intermediary. Advertising seats can bring super profit to manufacturers, soInformation intermediaries will auction advertising seats, and manufacturers will bid forthe seats.In this process, the more difficult to understand the commodity, the more fee theinformation intermediaries will charge. Information Authentication System can reduce thecost of understanding commodities, and reduce the toll of the information intermediary.This theory can be applied to not only Commodity market information intermediaryorganizations, such as online shopping platform, Advertising, chain management, but alsofinancial institutions, the labor market and the insurance marketing industry.