Competition among Exchanges
- 1 August 2001
- journal article
- Published by Oxford University Press (OUP) in The Quarterly Journal of Economics
- Vol. 116 (3) , 1027-1061
- https://doi.org/10.1162/00335530152466304
Abstract
Does competition among financial intermediaries lead to excessively low standards? To examine this question, we construct a model where intermediarieKeywords
All Related Versions
This publication has 17 references indexed in Scilit:
- The role of collateral in credit markets with imperfect informationPublished by Elsevier ,2002
- Competitive Equilibria with Asymmetric InformationJournal of Economic Theory, 1999
- Moral Hazard and Non-Exclusive ContractsSSRN Electronic Journal, 1999
- Sequential BankingJournal of Political Economy, 1992
- Arbitrage, Short Sales, and Financial InnovationEconometrica, 1991
- Default Premiums in Commodity Markets: Theory and EvidenceThe Journal of Finance, 1991
- Clearing and Settlement During the CrashThe Review of Financial Studies, 1990
- Optimal Innovation of Futures ContractsThe Review of Financial Studies, 1989
- Margins and market integrity: Margin setting for stock index futures and optionsJournal of Futures Markets, 1984
- Financial Intermediation and Delegated MonitoringThe Review of Economic Studies, 1984