traders arbitrage, thus restricting producers' market power. Using detailed individual data, I examine physical and financial …

I study how sequential entry into an arbitrage affects the liquidity of underlying assets and the speed of arbitrage …, incumbent arbitrageurs trade slowly to limit their price impact. As a result, the arbitrage opportunity does not vanish … barriers to entry. If entry does occur in equilibrium, market depth and the speed of arbitrage increase ahead of entry, while …

subject of this survey article. For example, parallel trade is essentially arbitrage within policy-integrated markets of IPR … rise to such arbitrage. First is simple retail-level trade in horizontal markets because consumer prices may differ. Second … controls for medicines, which are a key component of national health policies but can give rise to arbitrage through PI. We …

-sample. These declines appear to be primarily the result of changes in the level of arbitrage activity in the market, with mutual … or learning. Finally, we show that corporate bond fund performance exhibits similar dependence on measures of bond market … arbitrage activity …

the use of bond covenants. We find that more antitakeover provisions are associated with a lower cost of debt only in … competitive industries. Because they are exposed to higher takeover risk in competitive industries, bondholders charge higher bond … bond covenants. …