Publications of Peter Kondor

We study how competition among investors affects the efficiency of capital allocation, the speed of capital, and welfare. In our model, investors...

Econometrica, 84 (2), 735-780

We develop a dynamic model of liquidity provision, in which hedgers can trade multiple risky assets with arbitrageurs. We compute the equilibrium in...

Allowing for a richer information structure than usual, we show that rational traders’ calculation with short-term price fluctuations may heavily...