Discrete pricing and the design of dealership markets

Article Abstract:

Analysis of trading markets characterized by price grids that are not continuous but discrete shows that competition is constrained and allows market makers to come up with price schedules that are profitable to them. Trading entities are shown to be influenced by the size of the price tick, priority rule on order allocation among market participants and timing of order submission.

Research, Pricing, Markets (Economics)

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Who herds?

Article Abstract:

A study on forecast bias of industry-wide earnings shocks by financial analysts is presented.

Corporate Profits, Analysis, Profit, Profits, Economic forecasting, Financial analysts

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The evolution of managerial expertise: how corporate culture can run amok

Article Abstract:

Managerial expertise and its usage in corporate culture management is evaluated.

Usage, Corporate culture, Expertise

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