Market Quality and Insider Trading on an Experimental Capital Market
نویسندگان
چکیده
This experimental study is based on an examination by Theissen (2000), who compared single trading mechanisms. In contrast to his work, trading behaviour, market efficiency and market liquidity are also analyzed on an extended market, consisting of a call and a continuous auction in one trading period. In addition, the experimental design incorporates traders with perfect information of the fundamental value of the tradeable asset. The asymmetric information and the special market structure lead to new interesting results regarding the market quality and the risk-attitude of the traders.
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تاریخ انتشار 2010