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We study the endogenous determination of the trading mechanism in a search economy with a continuum of homogenous sellers and heterogeneous buyers.
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regulations. This pragmatic approach has its echoes in Halakha --Jewish law-- which, too, was concerned about information …
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economy. We approach this question via a model in which banks can invest in either information acquisition or market power … information acquisition but not to market power. We also find that managing customers money transactions enhances banks ability to …
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This paper develops a theoretical model to analyze the firms' incentives to preannounce their new products. We consider a two-period model where a single firm controls the market with one product in the first period and a new and better product is introduced in the second period, either by the...
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level, which is the firm's private information and applies to any product it sells. Consumers observe the performance of the …
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Transactions, market orders and limit orders are three major factors which affect a specialist's information set and … market orders. Furthermore, we find that market orders convey more information than limit orders about the value of the …
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particular, the paper investigates whether specialits manage quoted depth to reduce risks associated with information events. In …
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industries. It is assumed that information about new and profitable technologies is not immediately available to all of the … agents in the economy; this information spreads through the economy be means of a network. …
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