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Price Competition between Market Makers
9 references·16 citing·42 second hop
Price Competition between Market Makers (1993)Price Competition between Market MakersCredit-Worthiness Tests and Interbank Competition (1990)Credit-Worthiness Tests and I…Insider Trading, Liquidity, and the Role of the Monopolist Specialist (1989)Insider Trading, Liquidity, a…Informed Speculation with Imperfect Competition (1989)Informed Speculation with Imp…Liquidity and Market Structure (1988)Liquidity and Market StructureContinuous Auctions and Insider Trading (1985)Continuous Auctions and Insid…Bid, ask and transaction prices in a specialist market with heterogeneously informed traders (1985)Bid, ask and transaction pric…The Dynamics of Dealer Markets Under Competition (1983)The Dynamics of Dealer Market…Auctions of Shares (1979)Auctions of SharesA Convergence Theorem for Competitive Bidding with Differential Information (1979)A Convergence Theorem for Com…Exchange Competition, Entry, and Welfare (2021)Exchange Competition, Entry, …Trading in Fragmented Markets (2019)Trading in Fragmented MarketsTail expectation and imperfect competition in limit order book markets (2019)Tail expectation and imperfec…High-Frequency Trading Competition (2018)High-Frequency Trading Compet…Contests with small noise and the robustness of the all-pay auction (2017)Contests with small noise and…Informed Trading and Portfolio Returns (2012)Informed Trading and Portfoli…Central bank intervention and the intraday process of price formation in the currency markets (2010)Central bank intervention and…Cross‐Asset Speculation in Stock Markets (2008)Cross‐Asset Speculation in St…Privatization and stock market liquidity (2006)Privatization and stock marke…Payment for order flow (2003)Payment for order flowCompeting market makers, liquidity provision, and bid–ask spreads (2001)Competing market makers, liqu…Market Making, Prices, and Quantity Limits (2000)Market Making, Prices, and Qu…When It's Not The Only Game in Town: The Effect of Bilateral Search on the Quality of a Dealer Market (1997)When It's Not The Only Game i…Splitting Orders (1997)Splitting OrdersMarket Making by Price-Setting Firms (1996)Market Making by Price-Settin…Transaction Costs in Dealer Markets: Evidence From The London Stock Exchange (1994)Transaction Costs in Dealer M…Efficient Capital Markets: A Review of Theory and Empirical Work (1970)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Investor Psychology and Security Market Under‐ and Overreactions (1998)Illiquidity and stock returns: cross-section and time-series effects (2002)Market Liquidity and Funding Liquidity (2008)Information aggregation in a noisy rational expectations economy (1981)Tests of microstructural hypotheses in the foreign exchange market (1995)Transparency and Liquidity: A Comparison of Auction and Dealer Markets with Informed Trading (1996)Information Asymmetry, Information Precision, and the Cost of Capital (2011)Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information (1976)Trades, quotes, inventories, and information (1988)The Summary Informativeness of Stock Trades: An Econometric Analysis (1991)Liquidity Provision with Limit Orders and a Strategic Specialist (1997)COUNTERSPECULATION, AUCTIONS, AND COMPETITIVE SEALED TENDERS (1961)Firm incentives to promote technological change in pollution control: Reply (1992)Auctions of Divisible Goods: On the Rationale for the Treasury Experiment (1993)An Efficient Ascending-Bid Auction for Multiple Objects (2004)A Bidding Model of Perfect Competition (1977)The Loser's Curse and Information Aggregation in Common Value Auctions (1997)Information acquisition and decision making in committees: A survey (2005)Strategic Analysis of Auctions (2021)The Cost of Transacting (1968)Information Effects on the Bid-Ask Spread (1983)Price Formation and Liquidity in the U.S. Treasury Market: The Response to Public Information (1999)Liquidity and Asset Prices (2006)The Flash Crash: High‐Frequency Trading in an Electronic Market (2017)The Economics of Information (1976)Aggregate Demand Management in Search Equilibrium (1982)Middlemen versus Market Makers: A Theory of Competitive Exchange (2002)The economics of markets and platforms (2018)Speculators and Middlemen: The Strategy and Performance of Investors in the Housing Market (2020)Credit Rationing in Markets with Imperfect Information (1981)A Theory of Auctions and Competitive Bidding (1982)Capital Requirements, Monetary Policy, and Aggregate Bank Lending: Theory and Empirical Evidence (1996)Banking Deregulation and Industry Structure: Evidence from the French Banking Reforms of 1985 (2007)Interbank tiering and money center banks (2014)A Simple Implicit Measure of the Effective Bid-Ask Spread in an Efficient Market (1984)Liquidity and stock returns: An alternative test (1998)A New Estimate of Transaction Costs (1999)Commonality in liquidity (2000)Noise Trader Risk in Financial Markets (1990)
this work references cited by second hop

References

  • 1985Continuous Auctions and Insider Trading9,626 cited
  • 1985Bid, ask and transaction prices in a specialist market with heterogeneously informed traders6,132 cited
  • 1988Liquidity and Market Structure1,532 cited
  • 1989Informed Speculation with Imperfect Competition963 cited
  • 1983The Dynamics of Dealer Markets Under Competition783 cited
  • 1979Auctions of Shares733 cited
  • 1990Credit-Worthiness Tests and Interbank Competition589 cited
  • 1989Insider Trading, Liquidity, and the Role of the Monopolist Specialist517 cited
  • 1979A Convergence Theorem for Competitive Bidding with Differential Information186 cited

Cited by

  • 1996Market Making by Price-Setting Firms182 cited
  • 2018High-Frequency Trading Competition96 cited
  • 2006Privatization and stock market liquidity91 cited
  • 2012Informed Trading and Portfolio Returns90 cited
  • 1997Splitting Orders80 cited
  • 1994Transaction Costs in Dealer Markets: Evidence From The London Stock Exchange80 cited
  • 2019Trading in Fragmented Markets

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77 cited
  • 2003Payment for order flow70 cited
  • 1997When It's Not The Only Game in Town: The Effect of Bilateral Search on the Quality of a Dealer Market63 cited
  • 2000Market Making, Prices, and Quantity Limits58 cited
  • 2008Cross‐Asset Speculation in Stock Markets56 cited
  • 2001Competing market makers, liquidity provision, and bid–ask spreads52 cited
  • 2010Central bank intervention and the intraday process of price formation in the currency markets49 cited
  • 2017Contests with small noise and the robustness of the all-pay auction49 cited
  • 2021Exchange Competition, Entry, and Welfare48 cited
  • 2019Tail expectation and imperfect competition in limit order book markets37 cited