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 |
| Published: |
Wiley
2019
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| Online Access: | http://hdl.handle.net/1721.1/120757 https://orcid.org/0000-0001-5330-3441 |