Showing 1 - 10 of 11,085
We develop a model of spatial competition to explore how changes in the market structure affect the incentives of banks … reveal that the relaxation of competition distorts banks' incentives to invest in screening …
Persistent link: https://www.econbiz.de/10012910768
their privately observed soft information is positive or negative. Competition affects the investment in learning the …
Persistent link: https://www.econbiz.de/10010225815
potential order flow information leakage, insiders strategically disguise their order flows to escape trading competition. Our …
Persistent link: https://www.econbiz.de/10013244623
We analyze the imperfect competition among multiple informed traders in an economy with a risky asset whose liquidation … notions of market efficiency can be consistent. Our model provides a rationale for the competition among high frequency …
Persistent link: https://www.econbiz.de/10013067016
In the following paper we analyze the strategic competition between fast and slow traders. The model of Kyle (1985) is …
Persistent link: https://www.econbiz.de/10012960528
competition from short sellers. An experiment and instrumental variable analysis confirm this causal relationship. The effects are …
Persistent link: https://www.econbiz.de/10013040595
to peer prices varies with industry competition and whether the prices reflect firm-specific or industry information …
Persistent link: https://www.econbiz.de/10012921345
We analyze a divisible good uniform-price auction that features two groups each with a finite number of identical bidders. Equilibrium is unique, and the relative market power of a group increases with the precision of its private information but declines with its transaction costs. In line with...
Persistent link: https://www.econbiz.de/10011580637
We build a game theoretical model to examine how the level of information advantage of insiders and the competition … that the competition between insiders and sophisticated investors can reduce the losses of less sophisticated investors …
Persistent link: https://www.econbiz.de/10012967029
This paper examines the interplay between financial market trading and product market competition. An entrant learns … trading cost in stock market promotes product market competition …
Persistent link: https://www.econbiz.de/10014354549