Benchmarks in Search Markets
We characterize the role of benchmarks in price transparency of over-the-counter markets. A benchmark can raise social surplus by increasing the volume of beneficial trade, facilitating more efficient matching between dealers and customers, and reducing search costs. Although the market transparency...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
Wiley,
2019-03-06T17:04:10Z.
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| Subjects: | |
| Online Access: | Get fulltext |