This paper analyzes the impact of the transfer from a call auction to continuous trading on futures price behavior …. Using tick by tick data from the Taiwan Futures Exchange (TAIFEX), the empirical results show that the reduction in the … liquidity when the TAIFEX transfers from a call auction to continuous trading. Additionally, this paper finds that the relative …

academic interest in art, understanding of auction prices is limited. Price intransparency is exacerbated by contrasting … is no comprehensive theory of auction prices that combines both perspectives. To fill this gap, the author conducts three … ambiguities between theory and practice and elucidate the role of marketing for auction prices. The result is a conceptual …

auction with an additional buyer is conducted. The theoretical model predicts that with risk neutral agents all sales take … place in the auction rendering the negotiation prior to the auction obsolete. An experimental test of the model provides …