Chaojun Wang Nov 14,2022
On many important multi-dealer platforms, customers mostly request quotes from very few dealers. I build a model of multi-dealer platforms... Read More
Piero Gottardi,Humberto Moreira, William Fuchs Nov 15,2022
We consider a dynamic adverse selection model where privately informed sellers of divisible assets can choose how much of their... Read More
Kinda Hachem , Ana Babus Dec 02,2022
We develop a theory of financial innovation in which both market structure and the payoffs of the claims being traded... Read More
Ana Babus , Cecilia Parlatore Apr 30,2021
We study the determinants of asset market fragmentation in a model with strategic investors that disagree about the value of... Read More
Published: Journal of Financial Economics, 2022, 145(), 876-908Ivan Marinovic , Martin Szydlowski Sep 22,2020
We study the disclosure policy of a regulator overseeing a monitor with reputation concerns, such as a bank or... Read More
Brett Green , William Fuchs , Vladimir Asriyan Nov 05,2019
How effectively does a decentralized marketplace aggregate information that is dispersed throughout the economy? We study this question in a... Read More
Published: Journal of Economic Theory, 2021, (), -Brian Waters , Edward Van Wesep Dec 17,2018
We present a general equilibrium model of labor market ows that features a periodic equilibrium in which turnover is high... Read More
Darrell Duffie , Haoxiang Zhu Jul 06,2018
Size-discovery mechanisms allow large quantities of an asset to be exchanged at a price that does not respond to... Read More