D4 - Market Structure and Pricing
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Order Submission: The Choice between Limit and Market Orders
Most financial markets allow investors to submit both limit and market orders, but it is not always clear what affects the choice of order type. -
Determinants of Borrowing Limits on Credit Cards
The difference between actual borrowings and borrowing limits alone generates information asymmetry in the credit card market. -
The Economic Theory of Retail Pricing: A Survey
The types of contracts that arise in a typical vertical manufacturer–retailer relationship are more sophisticated than usually assumed in standard macroeconomic models. -
Liquidity of the Government of Canada Securities Market: Stylized Facts and Some Market Microstructure Comparisons to the United States Treasury Market
The aims of this study are to examine how liquidity in the Government of Canada securities market has evolved over the 1990s and to determine what factors influence the level of liquidity in this market, with some comparisons to the U.S. Treasury securities market. We find empirical support for the hypothesis that an increase in […] -
The Sale of Durable Goods by a Monopolist in a Stochastic Environment
This paper examines the sale of durable goods by a monopolist in a stochastic partil equilibrium setting. It analyzes the responses of prices and output to various types of shocks and notes the differences with non-durable goods and competitive markets. It shows that behavior in this model with constant marginal costs of production is in […]
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