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A Theory of Participation in OTC and Centralized Markets

Jerome Dugast, Pierre-Olivier Weill , Semih Uslu   Sep 29,2021

Should regulators encourage the migration of trade from over-the-counter (OTC) to centralized markets? To address this question, we study a... Read More

Private Renegotiations and Government Interventions in Debt Chains

Christian Opp Vincent Glode   Nov 02,2021

We propose a model of strategic debt renegotiation in which businesses are sequentially interconnected through their liabilities. This financing structure,... Read More

Bargaining and News

Brendan Daley , Brett Green   May 04,2017

We study a bargaining model in which a buyer makes frequent offers to a privately informed seller, while gradually learning... Read More