Competition for Order Flow as a Coordination Game PDF Download

Author: Jutta Dänges
Publisher:
ISBN:
Category :
Languages : de
Pages :

View

Book Description

Author: Jutta Dönges
Publisher: Springer-Verlag
ISBN: 3663077349
Category : Business & Economics
Languages : de
Pages : 296

View

Book Description
Jutta A. Dönges applies the recent theory of global games to a model of intermarket competition and shows the existence of a unique equilibrium. The author investigates whether and under which circumstances alternative trading systems can co-exist with established securities markets or even replace them.

Author: Giovanni Piersanti
Publisher: Oxford University Press
ISBN: 0199653127
Category : Business & Economics
Languages : en
Pages : 407

View

Book Description
An overview of the causes and consequences of speculative attacks on domestic currency and international financial turmoil. It provides a comprehensive treatment of the existing theories of exchange rate crises and of financial market runs.

Author: Morten Balling
Publisher: Psychology Press
ISBN: 041529827X
Category : Business & Economics
Languages : en
Pages : 387

View

Book Description
Technology has important implications for the earnings, cost, risks, competitiveness and location of financial institutions. In this work, leading international scholars discuss how financial supervision and regulation must be adapted to the new risks and new risk management methods.

Author: Christina Evelies Metz
Publisher: Springer Science & Business Media
ISBN: 3642554717
Category : Business & Economics
Languages : en
Pages : 222

View

Book Description
As the complexity of financial markets keeps growing, so does the need to understand the decision-making and the coordination of the exsuing actions in the marketplace. In particular, the disclosure of information to market participants and its impact on the market outcome mertis attention. This study analyses the role of private and public information in currency crises. Calls for increased dissemination of economic and policy-related information by central banks notwithstanding, the study shows that transparency is not generally conductive to preventing speculative attacks in fixed exchange-rate regimes. Rather, the role of private and public information in the market-place depencs critically on the prevailing market sentiment. The study also highlights the import of market transparency design in an environment that allows for herding and market leadership of individual speculators.

Author: Mahdavi, Iraj
Publisher: IGI Global
ISBN: 1605668095
Category : Business & Economics
Languages : en
Pages : 434

View

Book Description
"This book presents cutting-edge knowledge on scientific approaches to the management of supply networks in a highly informed global environment with abundant dynamic and uncertain challenges"--Provided by publisher.

Author: George Norman
Publisher: Cambridge University Press
ISBN: 1139428586
Category : Business & Economics
Languages : en
Pages : 309

View

Book Description
This 2000 text applies modern advances in game theory to the analysis of competition policy and develops some of the theoretical and policy concerns associated with the pioneering work of Louis Phlips. Containing contributions by leading scholars from Europe and North America, this book observes a common theme in the relationship between the regulatory regime and market structure. Since the inception of the new industrial organization, economists have developed a better understanding of how real-world markets operate. These results have particular relevance to the design and application of anti-trust policy. Analyses indicate that picking the most competitive framework in the short run may be detrimental to competition and welfare in the long run, concentrating the attention of policy makers on the impact on the long-run market structure. This book provides essential reading for graduate students of industrial and managerial economics as well as researchers and policy makers.

Author:
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 182

View

Book Description

Author: Russell Cooper
Publisher: Cambridge University Press
ISBN: 9780521578967
Category : Business & Economics
Languages : en
Pages : 184

View

Book Description
This volume studies the implications of macroeconomic complementarities for aggregate behaviour. Topics include: economies with production complementarities; search models; imperfectly competitive product markets; and the role of government in resolving and creating coordination problems.

Author: Peter-Jan Engelen
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 200

View

Book Description
Over the last decade, the securities industry has been revolutionized. Technological and market innovations urged regulators to respond by updating the rules on securities trading. While in the US, traditional stock exchanges were under attack from electronic trading systems (ECNs), the European Union wanted to increase competition by abolishing the monopoly of traditional exchanges and by allowing systemic internalization by banks. The first part of this book focuses on the front-office of securities trading. It discusses the impact of alternative trading systems (ATSs), the regulatory response through the Markets in Financial Instruments Directive (MiFID) and the Regulation National Market System (RegNMS), the appearance of multilateral trading facilities (MTFs), and the use of dark pools. Although the trading practice has been adjusted to the new challenges, the back-office did not follow in a similar way. The European clearing and settlement industry has been fragmented for many years. Since MiFID allows trading venues to choose the route for clearing and settlement, the need for adjustments down the trading chain is urgent. The book discusses the competition and externalities of this network industry, cross-border central securities depositories (CSDs), systemic risk and central counterparty (CCP), the market consolidation process (Link-Up Markets), as well as the initiative of the Europese Centrale Bank by launching the TARGET 2 Securities (T2S) project. The book is for practitioners, executive and market professionals from the banking and securities industry, as well as academics who want to update their insights and knowledge about the profound changes in securities trading, clearing, and settlement in Europe. Readers will find state-of-the-art discussions about MiFID, T2S, and so on.