Frondel, Manuel; Schmidt, Christoph M.; Vance, Colin - Rheinisch-Westfälisches Institut für … - 2013
This note attempts to reconcile a range of primary methods for dealing with price asymmetry, such as the approaches proposed by Tweeten and Quance (1969), Wolffram (1971) and Houk(1977). Using Wolffram’s stylized example, we first illustrate that the notion of asymmetry can be captured in a...