Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Duffie, Darrell | - |
dc.contributor.author | Garleanu, Nicolae | - |
dc.contributor.author | Pedersen, Lasse Heje | - |
dc.date.accessioned | 2008-05-30T14:33:02Z | - |
dc.date.available | 2008-05-30T14:33:02Z | - |
dc.date.issued | 2003-09-15 | - |
dc.identifier.uri | http://hdl.handle.net/2451/27273 | - |
dc.description.abstract | We provide the impact on asset prices of trade by search and bargaining. Under natural conditions, prices are higher if investors can find each other more easily, if sellers have more bargaining power, or if the fraction of qualified owners is greater. If agents face risk limits, then higher volatility leads to greater difficulty locating unconstrained buyers, resulting in lower prices. Information can fail to be revealed through trading when search is difficult. We discuss a variety of financial applications and testable implications. | en |
dc.language.iso | en_US | en |
dc.relation.ispartofseries | FIN-03-041 | en |
dc.title | Valuation in Over-The-Counter Markets | en |
dc.type | Working Paper | en |
Appears in Collections: | Finance Working Papers |
Files in This Item:
File | Description | Size | Format | |
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wpa03041.pdf | 338.07 kB | Adobe PDF | View/Open |
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