Dealer market structure, outside competition, and the bid-ask spread

We investigate the linkages between the number of dealers making markets in a security, the extent of outside (or nondealer) competition, and the market bid ask spread for NASDAQ NMS stocks. The investigation is guided by a model that emphasizes dealers' interactions as their inventories change...

Ausführliche Beschreibung

Bibliographische Detailangaben

Veröffentlicht in:	Journal of economic dynamics & control 1995-05, Vol.19 (4), p.683-710
1. Verfasser:	Laux, Paul A.
Format:	Artikel
Sprache:	eng
Schlagworte:	Bid-ask spread Competition Dealers Institutional investors Institutions Investment Market microstructure Market structure Nasdaq
Online-Zugang:	Volltext
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