Market triads: A theoretical and empirical analysis of market intermediation

Drawing on Simmel's analysis of the triad, this paper develops the concept of the intermediary in market settings. Intermediaries are third-party actors who represent a joining force rather than a divisive force in markets. Based on an analysis of executive search firms in the labor market for chief executive officers, this paper sets forth the conditions under which the intermediary role emerges and describes the process by which intermediaries join buyers and sellers together.