The Organization of Financial Exchange Markets: Theory and Evidence
AbstractThis article presents theory and evidence regarding the organization of financial exchange markets. It derives conditions under which (1) a member-owned exchange has a monpoly over the trade of a particular financial contract and its close substitutes, and (2) exchange members earn economic rents.
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Bibliographic InfoPaper provided by Business, Law and Economics Center, John M. Olin School of Business, Washington University in its series Washington University with number 98-01.
Length: 41 pages
Date of creation: 1998
Date of revision:
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Postal: Business, Law and Economics Center, John M. Olin School of Business, Washington University. Campus Box 1133, One Brookings Drive, St. Louis MO 63130-4899.
Web page: http://www.olin.wustl.edu/ble/
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- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
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- Matthew J. Clayton & Bjorn N. Jorgensen & Kenneth A. Kavajecz, 1999.
"On the Formation and Structure of International Exchanges,"
New York University, Leonard N. Stern School Finance Department Working Paper Seires
99-057, New York University, Leonard N. Stern School of Business-.
- Matthew J. Clayton & Bjorn N. Jorgensen & Kenneth A. Kavajecz, 1999. "On the Formation and Structure of International Exchanges," Tinbergen Institute Discussion Papers 99-079/2, Tinbergen Institute.
- Matthew J. Clayton & Bjorn N. Jorgensen & Kenneth A. Kavajecz, . "On the Formation and Structure of International Exchanges," Rodney L. White Center for Financial Research Working Papers 22-99, Wharton School Rodney L. White Center for Financial Research.
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