منابع مشابه
Intermediated Blind Portfolio Auctions
A much as 12% of the daily volume on the New York Stock Exchange, and similar volumes on other major world exchanges, involves sales by institutional investors to brokers through blind portfolio auctions. Such transactions typically take the form of a first-price sealed-bid auction in which the seller engages a few potential brokers and provides limited information about the portfolio being sol...
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Ben McFarlane considers the possible impact on the law of intermediated securities of some developments in the general law of trusts and of property.
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I study a market in which a profit-maximizing intermediary facilitates trade between buyers and sellers. The intermediary sets prices for buyers and sellers, and keeps the difference as her fee. Optimal prices increase when demand increases, i.e., shifts right. If a demand increase is due to an increase in the number of ex ante similar buyers, then the intermediary’s optimal percent fee decreas...
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Time-bound product returns and optimal order quantities for mass merchandisers Min-Chun Yu a & Mark Goh b c a Department of Business Administration, National Kaohsiung University of Applied Sciences, 415 Chien Kung Road, Kaohsiung 807, Taiwan, ROC b NUS Business School, National University of Singapore, Singapore 117592, Singapore c School of Management, University of South Australia, Adelaide,...
متن کاملIntermediated Markets with Posted Prices
We consider a model of intermediated trade for a financial asset. Agents' valuation for the asset includes both a private and a common value component. A third party posts a price at which trade can occur, and a buyer and seller simultaneously decide whether to accept or reject the trade. We show that trade can be ex post inefficient, in the sense that a high value seller sells the good to a lo...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2009
ISSN: 1556-5068
DOI: 10.2139/ssrn.1344421