Séminaire

Who Acquires Information in Dealer Markets?

Adrien Vigier (BI Norwegian Business School)

24 septembre 2019, 11h00–12h30

Toulouse

Salle MS001

Economic Theory Seminar

Résumé

We study information acquisition in dealer markets. We rst identify a one-sided strategic complementarity in information acquisition: the more informed traders are, the larger market makers' gain from becoming informed. We then derive the equilib- rium pattern of information acquisition and examine the implications of our analysis for market liquidity and price discovery.

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