intermédiaires

Intermédiaires are actors who facilitate exchanges between buyers and sellers, or more broadly between producers and consumers. They perform the core function of reducing search and transaction costs, mitigating information asymmetries, and coordinating multiple parties in a market. The term is used across economics, business, and policy to describe middlemen, brokers, agents, and platforms that operate between participants in a transaction.

Typical intermediaries include wholesalers and retailers, brokers and agents, distributors, banks and other financial intermediaries, insurers, and digital platforms such as marketplaces and payment services. Some intermediaries take ownership of goods (merchants), while others act purely as agents or facilitators. They may specialize by sector, product type, or geographic region.

Core functions include matching supply with demand, reducing search costs, providing information and warranties, financing transactions, handling logistics, standardizing terms, and enforcing contracts. They can also bundle complementary services such as marketing, after-sales support, or regulatory compliance.

Economically, intermediaries can raise market efficiency by lowering transaction costs and enabling scale. Historically central to trade, their role has evolved with globalization and digital technology. Online platforms, data analytics, and fintech have reshaped intermediation by increasing reach and speed, while raising concerns about platform power, data privacy, and dependence of suppliers on a single channel.

Regulation and policy address potential conflicts of interest and systemic risk. Intermediaries are often subject to competition law, consumer protection, licensing, disclosure requirements, and data protection rules, aiming to balance efficiency with transparency and fair competition.