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Bid Takers or Market Makers? The Effect of Auctioneers on Auction Outcomes     Auction Outcomes  Makers       font style='font-size:12px;'> 2015/7/21
Auction design has been studied extensively; however, within a given design, does the process of how an auction is conducted matter as well? We address this question by looking for systematic hete...
The knowledge of transaction costs is important for market participants. Profits accrued while dealing in e.g. commodity futures do not just depend on the development of the futures or the underlying ...
A Utility Framework for Bounded-Loss Market Makers     Utility Framework   Bounded-Loss Market  Makers       font style='font-size:12px;'> 2012/9/14
We introduce a class ofutility-based market makersthat always accept orders at their risk-neutral prices. We derive necessary and sufficient conditions for such market makers to have bounded loss. We ...
The inventory positions of two risk-averse market makers are introduced into a Kyle (1985) type batch trading model and the effects analyzed. An equilibrium is defined including participation constra...
The inventory positions of two risk-averse market makers are introduced into a Kyle (1985) type batch trading model and the effects analyzed. An equilibrium is defined including participation constrai...

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