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Competition and Manipulation in Derivative Contract Markets

Zhang, Anthony Lee - 2020

This paper studies manipulation in cash-settled derivative contract markets. When traders hedge factor risk using cash … good. In equilibrium, manipulation can make all agents worse off. I define two measures of manipulation-induced welfare … losses, which can be estimated using commonly observed market data. Using these measures, I estimate how large manipulation …

Persistent link: https://www.econbiz.de/10012848739

Market power and information revelation in dynamic trading

Gottardi, Piero; Serrano, Roberto - 2004

We study a strategic model of dynamic trading where agents are asymmetrically informed over common value sources of uncertainty. There is a continuum of buyers and a finite number n of sellers. All buyers are uninformed, while at least one seller is privately informed about the true state of the...

Persistent link: https://www.econbiz.de/10011451558

Pre-Match Investment Competition with Bounded Transfers

Han, Seungjin - 2019

This paper studies pre-match investment competition with upper and lower bounds on feasible transfers to sellers in a general signaling environment, where the types of buyers and sellers are private information and the surplus may depend on both types and investments. Bounded transfers create...

Persistent link: https://www.econbiz.de/10012893777

Competing with Asking Prices

Lester, Benjamin R. - 2016

In many markets, sellers advertise their good with an asking price. This is a price at which the seller will take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the seller...

Persistent link: https://www.econbiz.de/10012986936

Market Power and Information Revelation in Dynamic Trading

Serrano, Roberto; Gottardi, Piero - 2021

Persistent link: https://www.econbiz.de/10013318943

Price Setting in a Decentralized Market and the Competitive Outcome

Lauermann, Stephan - 2018

This paper studies a decentralized, dynamic matching and bargaining market: buyers and sellers are matched into pairs. Traders exit the market at a constant rate, inducing search costs (frictions). All price offers are made by sellers. Despite the fact that sellers have all the bargaining power...

Persistent link: https://www.econbiz.de/10014219803

Competition for talent under performance manipulation : CEOs on steroids

Marinovic, Iván; Povel, Paul - 2013 - This version: October 2013

higher effort but also to more manipulation of measured performance. If the cost of manipulating performance is low, the …

Persistent link: https://www.econbiz.de/10010205915

Product Market Competition and Predatory Stock Price Manipulation

Matta, Rafael - 2020

manipulation. Our model shows that predatory stock price manipulation leads to inefficient market concentration. Our analysis … further unveils product market competition as a channel through which buy orders increase manipulation profits, providing new …

Persistent link: https://www.econbiz.de/10012839910

Competitive governments : an economic theory of politics and public finance

Breton, Albert - 1996 - 1. publ.

Persistent link: https://www.econbiz.de/10013493739

Electoral competition under media influence

Bräuer, Wolfgang - 1998

We suggest a model of electoral competition between two parties which is extended by a third player : mass media. The classical one-dimensional competition model is changed by introducing an issue-specific sensibility-coefficient and by allowing for non-voting. The winner is selected by majority...

Persistent link: https://www.econbiz.de/10011441433