Christie, William G; Harris, Jeffrey H; Schultz, Paul H - In: Journal of Finance 49 (1994) 5, pp. 1841-60
On May 26 and 27, 1994, several national newspapers reported the findings of W. Christie and P. Schultz (1994) who cannot reject the hypothesis that marketmakers of active NASDAQ stocks implicitly colluded to maintain spreads of at least $0.25 by avoiding odd-eighth quotes. On May 27, dealers in...