intermediaries pursue prot opportunities by providing intermediation services (i.e. "liquidity") in exchange for an endogenous fee …

role of information costs on incentives for trade intermediation, thereby endogenising the pattern of direct and indirect … trade. Intermediation is shown to unambiguously raise expected trade volume and social welfare by expanding the set of …

, intermediation costs (such as breadth) etc. No general coherent denition seems to exist, and few attempts have been made to justify …

effectively providing intermediation services (i.e. “liquidity"). Our market quality measure is equal to the additional … consumption enjoyed by investors as a result of this intermediation, and can be represented by means of a number of observable …

to performance. For the first time we employ a Hodrick-Prescott Filter, a methodology widely used in macroeconomics to …

the hypothesis that ownership-specific advantages are a major determinant of performance differences. This paper explores … performance issues using the eclectic paradigm configuration of hotel and hospitality multinationals (NACE=55), operating in …

We analyze the performance outcomes of National Hockey League (NHL) players over 18 seasons (1990-1991 to 2007-2008) as … chiefly by supply-side factors in the form of excess cohort competition and not quality differences since the performance of … cohorts. Performance-adjusted wage losses for those born in large birth cohorts are therefore greater than the raw estimates …

. In a natural experiment, we study the gender difference in performance resulting from changes in stakes. We use detailed … information on the performance of high-school students and exploit the variation in the stakes of tests, which range from 5% to 27 …