Narrow search
Showing 1 - 10 of 2,970
Cover Image
Limit Order or Market Order? The Trade-Off between Price Improvement and Delayed Execution
Tsai, I-Chun; Ma, Tai; Chen, Ming-Chi - In: Journal of Economics and Management 3 (2007) 2, pp. 201-223
We develop a dynamic model of order submission strategies in an order-driven market, where traders differ in their share valuations. Our model shows that several factors influence the uninformed trader¡¦s choice of order to submit: the market price, the expected asset value, the probability of...
Persistent link: https://www.econbiz.de/10008555964
Cover Image
Do prices in the unmediated call auction reflect insider information? - An experimental analysis
Brünner, Tobias; Levinsky, Rene - Wirtschaftswissenschaftliche Fakultät, … - 2008
The unmediated call auction is a useful trading mechanism to aggregate dispersed information. Its ability to … simple call auction game where both auction prices and limit prices of uninformed traders re?ect potential insider … information. The predictions of the model are tested in the laboratory. While an insider improves the call auction outcomes in …
Persistent link: https://www.econbiz.de/10005090521
Cover Image
Asset price manipulation with several traders
Walther, A. - Faculty of Economics, University of Cambridge - 2012
large, each trader’s price impact subsides, and so does manipulation in equilibrium. However, the impact of manipulation on … increased number of manipulative actions introduces enough noise to exacerbate the impact of manipulation on learning. …
Persistent link: https://www.econbiz.de/10010699820
Cover Image
Revealing Product Information to Bidders with Differentiated Preferences
Li, Daniel Z. - In: Economics Bulletin 33 (2013) 3, pp. 2235-2244
in the form of partition prior to the auction. Under a symmetric setting, we show in a close-form result that more …
Persistent link: https://www.econbiz.de/10010836291
Cover Image
The Insider's Curse
Hernando-Veciana, Angel; Tröge, Michael - EconWPA - 2005
This paper studies an auction model in which one of the bidders, the insider, has better information about a common … also show that the insider can protect the value of her private information by hiding her presence in the auction to the … outsiders. Finally, we analyze the implications of information revelation on the efficiency of the auction and on the auctioneer …
Persistent link: https://www.econbiz.de/10005561808
Cover Image
Information Disclosure Policies: When Do They Bring Environmental Improvements?
Uchida, Toshihiro - In: International Advances in Economic Research 13 (2007) 1, pp. 47-64
There has been a growing interest among policy makers on the use of information disclosure policies for pollution control. This paper theoretically assesses the consequences of information disclosure policies and identifies the conditions under which such policies are likely to bring...
Persistent link: https://www.econbiz.de/10005674479
Cover Image
Information Disclosure as Environmental Regulation: A Theoretical Analysis
Cohen, Mark; Santhakumar, V. - In: Environmental & Resource Economics 37 (2007) 3, pp. 599-620
Governments around the world are beginning to embrace a new form of environmental regulation – mandatory disclosure of information. While information disclosure programs appear to have an impact on subsequent firm behavior – often resulting in lower levels of pollution – little is known...
Persistent link: https://www.econbiz.de/10005681055
Cover Image
Unraveling of Information: Competition and Uncertainty
Stivers, Andrew - In: Topics in Theoretical Economics 4 (2004) 1, pp. 1151-1151
This paper examines incentives for information disclosure in a oligopolistic market when buyers are unsure of the existence of that information. Previous empirical and theoretical work has shown that mandatory disclosure laws can be binding when buyers do not know whether the information exists....
Persistent link: https://www.econbiz.de/10005458924
Cover Image
Asymmetric Information and Adverse Selection
Jewitt, Ian; Leaver, Clare; Bar-Isaac, Heski - Department of Economics, Oxford University - 2014
This paper develops a framework for the analysis of how asymmetric information impacts on adverse selection and market efficiency.  We adopt Akerlof's (1970) unit-demand model extended to a setting with multidimensional public and private information.  Adverse selection and efficiency are...
Persistent link: https://www.econbiz.de/10011004465
Cover Image
How are shorts informed?
Engelberg, Joseph E.; Reed, Adam V.; Ringgenberg, Matthew C. - In: Journal of Financial Economics 105 (2012) 2, pp. 260-278
We find that a substantial portion of short sellers' trading advantage comes from their ability to analyze publicly available information. Using a database of short sales combined with a database of news releases, we show that the well-documented negative relation between short sales and future...
Persistent link: https://www.econbiz.de/10010617613