Bid, ask and transaction prices in a specialist market with heterogeneously informed traders

Author:

Glosten Lawrence R.,Milgrom Paul R.

Publisher

Elsevier BV

Subject

Strategy and Management,Economics and Econometrics,Finance,Accounting

Reference17 articles.

1. The market for ‘lemons’, qualitative uncertainty and the market mechanism;Akerlof;Quarterly Journal of Economics,1970

2. Neglected firm effect and the inadequacy of the capital asset pricing model;Arbel,1981

3. Dealership market;Amihud;Journal of Financial Economics,1980

4. The Only Game in Town

5. On the relationship between return and market value of common stocks;Banz;Journal of Financial Economics,1981

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