Similar Search Results

Strategic limitation of market accessibility : search platform design and welfare

Teh, Christopher; Wang, Chengsi; Watanabe, Makoto - 2023

This paper explores the relationship between market accessibility and various participants' welfare in an intermediated directed-search market. For a general class of meeting technologies, we provide a necessary and sufficient condition under which efficiency requires imperfect accessibility,...

Persistent link: https://www.econbiz.de/10014295063

Marketmaking middlemen

Gautier, Pieter; Hu, Bo; Watanabe, Makoto - 2016

This paper develops a model in which market structure is determined endogenously by the choice of intermediation mode …. We consider two representative business modes of intermediation that are widely used in real-life markets: one is a … other. In our model, buyers and sellers can simultaneously search in an outside market and use the intermediation service …

Persistent link: https://www.econbiz.de/10011517977

Platform intermediation in a market for differentiated products

Galeotti, Andrea (contributor); … - 2008

Persistent link: https://www.econbiz.de/10003674369

Petty corruption and citizen feedback

Angelucci, Charles; Russo, Antonio - 2015

Numerous countries are introducing citizen feedback schemes to tame corruption. We study how best to incorporate feedback in public officials' incentives. The main novelty of our proposal is to allow citizens to directly influence officials' pay. We consider a situation in which entrepreneurs...

Persistent link: https://www.econbiz.de/10011343756

Brokering votes with information spread via social networks

Duarte, Raúl; Finan, Frederico S.; Larreguy, Horacio; … - 2024

Politicians rely on political brokers to buy votes throughout much of the developing world. We investigate how social networks facilitate these vote-buying exchanges. Our conceptual framework suggests brokers should be particularly well-placed within the network to learn about non-copartisans’...

Persistent link: https://www.econbiz.de/10015070061

Rumors and runs in opaque markets : evidence from the panic of 1907

Fohlin, Caroline; Gehrig, Thomas P.; Haas, Marlene - 2016

Using a new daily dataset for all stocks traded on the New York Stock Exchange between 1905 and 1910, we study the impact of information asymmetry during the liquidity freeze and market run of October 1907 - one of the most severe financial crises of the 20th century. We estimate that the market...

Persistent link: https://www.econbiz.de/10011522131

Automating exchange rate target zones : intervention via an electronic limit order book

Melvin, Michael (contributor); Menkhoff, Lukas (contributor) - 2008

Persistent link: https://www.econbiz.de/10003641673

Bank of England interest rate announcements and the foreign exchange market

Melvin, Michael; Saborowski, Christian; Sager, Michael; … - 2009

Since 1997, the Bank of England Monetary Policy Committee (MPC) has met monthly to set the UK policy interest rate. We examine evidence of systematic patterns in exchange rate movements on MPC days over the first decade of operation of the MPC. Daily data reveal significant differences in...

Persistent link: https://www.econbiz.de/10003831967

Exchange rate management in emerging markets : intervention via an electronic limit order book

Melvin, Michael; Menkhoff, Lukas; Schmeling, Maik - 2009

This paper describes and analyzes the implementation of a crawling exchange rate band on an electronic trading platform. The placement of limit orders at the central bank's target rate serves as a credible policy statement that may coordinate beliefs of market participants. We find for our...

Persistent link: https://www.econbiz.de/10003850509

Treasury auctions and secondary market dynamics : an analysis based on the MTS market for Italy

Cafiso, Gianluca - 2015

Auctions of government bonds are the main allotment method used by the Treasury of advanced economies. Previous research has found that auctions have an influence on the market yield days before they take place, and underpricing is usually spotted when their outcome is compared with...

Persistent link: https://www.econbiz.de/10010519950

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