Price Competition Between Market Makers
The paper models explicitly the price competition in financial markets, where prices are quoted by competing dealers (market makers) before future...
The paper models explicitly the price competition in financial markets, where prices are quoted by competing dealers (market makers) before future...
A model of optimal accumulation of capital and portfolio choice over an infinite horizon in continuous time is formulated in which the vector process...
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The Arrow-Lind Theorem is generally interpreted as implying that risk-averse investors will reject some projects that the public sector is justified...
The demand for dividend-paying stocks by individual investors remain an enigma to financial economists. Studies of asset prices have failed to resolve...
The paper considers the effect of mandatory last trade reporting in a competitive dealership market in the presence of traders with superior...
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This paper examines the effect of a change in the percentage of informed participants in an asset market on the variability of prices. We consider...