Regulation and Security Design in Concentrated Markets
收藏NBER2021-05-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w28764
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资源简介：
Regulatory debates about centralized trading assume security design is immune to market structure. We consider a regulator who introduces an exchange to increase liquidity, understanding that security design is endogenous. For a given security, investors would like to trade in a larger market and,
提供机构：
美国国家经济研究局
创建时间：
2021-05-01
