Semua buku

Profesional

Aplikasi Tentang Pelatih Masuk Mulai membaca

Quantitative Finance · Glosarium

Apa itu Over-the-counter search model, search friction, bargaining power?

Dikenal juga sebagai: over-the-counter search model · search friction · bargaining power

Definition 23.1 Microstructure and Execution · Bab 23 — Request for Quote and Dealer Markets in Theory

An over-the-counter search model describes a market in which traders find counterparties one at a time, at random times, and agree prices bilaterally. A search friction is the delay and cost of finding a counterparty; a trader’s bargaining power is the share of the gains from a trade it captures when a counterparty is found.

The dealer market’s bid–ask spread against the investors’ contact rate with dealers, in the search-and-bargaining model with the chapter’s parameters. Data: mx_otc.dgp_study.
Figure 23.1. The dealer market’s bid–ask spread against the investors’ contact rate with dealers, in the search-and-bargaining model with the chapter’s parameters. Data: mx_otc.dgp_study.
Baca dalam konteks →