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Risk seekers: trade, noise, and the rationalizing effect of market impact on convex preferences

Efstathios Avdis   Oct 08,2020

Long-held intuition dictates that information-based trade is impossible without exogenous noise. Risk seekers can resolve this conundrum. Even though such... Read More

Risk seekers: trade, noise, and the rationalizing effect of market impact on convex preferences

Efstathios Avdis   Oct 08,2020

Long-held intuition dictates that information-based trade is impossible without exogenous noise. Risk seekers can resolve this conundrum. Even though such... Read More

Risk seekers: trade, noise, and the rationalizing effect of market impact on convex preferences

Efstathios Avdis   Oct 08,2020

Long-held intuition dictates that information-based trade is impossible without exogenous noise. Risk seekers can resolve this conundrum. Even though such... Read More

Inventory Management, Dealers' Connections, and Prices in OTC Markets

Thierry Foucault,Peter Hoffmann, Jean-Edouard Colliard   Oct 08,2020

We propose a new model of trading in OTC markets. Dealers accumulate inventories by trading with end-investors and trade among... Read More

Inventory Management, Dealers' Connections, and Prices in OTC Markets

Thierry Foucault,Peter Hoffmann, Jean-Edouard Colliard   Oct 08,2020

We propose a new model of trading in OTC markets. Dealers accumulate inventories by trading with end-investors and trade among... Read More

Asset Dissemination through Dealer Markets

Gabrielle Demange, Jean-Edouard Colliard   Oct 08,2020

In over-the-counter markets for assets such as bonds or securitizations, large volumes can be split into smaller pieces and gradually... Read More

Asset Dissemination through Dealer Markets

Gabrielle Demange, Jean-Edouard Colliard   Oct 08,2020

In over-the-counter markets for assets such as bonds or securitizations, large volumes can be split into smaller pieces and gradually... Read More

Financial Restructuring and Resolution of Banks

Denis Gromb , Jean-Edouard Colliard   Oct 08,2020

How do resolution frameworks affect the private restructuring of distressed banks? We model a distressed bank's shareholders and creditors negotiating... Read More

Financial Restructuring and Resolution of Banks

Denis Gromb , Jean-Edouard Colliard   Oct 08,2020

How do resolution frameworks affect the private restructuring of distressed banks? We model a distressed bank's shareholders and creditors negotiating... Read More

Financing a Black Box: Dynamic Investment with Persistent Private Information

Felix Feng   Nov 03,20200

This paper studies the implication of persistent private information on a firm’s optimal financing and investment policies. In a dynamic... Read More