Competition for Order Flow and the Theory of Global Games

Language: German

Published by Deutscher Universitätsverlag, Deutscher Universitätsverlag Sep 2001, 2001

3824474263 / 9783824474264

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Seller: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, GermanyBuchWeltWeit Ludwig Meier e.K.

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This item is printed on demand - it takes 3-4 days longer - Neuware -The proliferation of alternative trading systems has increased competition for order flow in financial markets significantly and renewed the debate on fragmentation versus consolidation. Market microstructure models that analyze liquidity-based intermarket competition typically exhibit multiple equilibria, making it difficult to determine whether fragmentation or consolidation of order flow will occur.Jutta A. Dönges applies the recently developed theory of global games thatreduces multiplicity of equilibria in coordination games to a model of intermarket competition and demonstrates the existence of a unique equilibrium under fairly general conditions. The author investigates whether and under which circumstances alternative trading systems, particularly crossing networks, can co-exist with established markets or even replace them and explores how the introduction of a crossing network affects bothmonopolistic and competitive dealer markets and the market participants'behavior. 308 pp. Deutsch.

Seller Inventory # 9783824474264

Title
Competition for Order Flow and the Theory of Global Games
Author
Jutta Dönges
Publisher
Deutscher Universitätsverlag, Deutscher Universitätsverlag Sep 2001
Publication year
2001
Condition
Neu
Binding
Taschenbuch
Language
German
ISBN 10
3824474263
ISBN 13
9783824474264
Item weight
401 grams
Dimensions
210x148x17 mm

BuchWeltWeit Ludwig Meier e.K.

Bergisch Gladbach, Germany

5-star seller

AbeBooks seller since January 11, 2012

Shipping rates from Germany to U.S.A.

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BuchWeltWeit Ludwig Meier e.K.

Germany