We consider the effect of asymmetric information on the price formation process in a quote-driven market where one market maker receives a private signal on the security fundamental.A model is presented where market makers repeatedly compete in prices: at each stage a bid-ask auction occurs and...

In practice, many package transportation companies lower their costs by hiring outside carriers to serve orders that cannot be served efficiently by their own trucks. The problem which takes the order outsource option into account is the Vehicle Routing Problem with Private Fleet and Common...

In rational, efficiently functioning and complete markets, returns on derivative and underlying securities should be perfectly contemporaneously correlated.Due to market imperfections, one of these markets may reflect information faster.The use of high-frequency data and the choice for a small...