Insider Trading with Different Market Structures
AbstractWe study an extension of Jain and Mirman (1999) with two insiders under three different market structures : (i) Cournot competition among the insiders, (ii) Stackelberg game between the insiders and (iii) monopoly in the real market and Stackelberg in the financial market. We show how the equilibrium outcomes are affected by each of the market structure. Finally we perform a comparative statics analysis between the models.
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Bibliographic InfoPaper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00639657.
Date of creation: Aug 2011
Date of revision:
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Insider trading; Cournot; Stackelberg; correlated signals; Kyle model.;
Other versions of this item:
- Wassim Daher & Fida Karam & Leonard J. Mirman, 2011. "Insider trading with different market structures," Documents de travail du Centre d'Economie de la Sorbonne 11056, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-11-21 (All new papers)
- NEP-COM-2011-11-21 (Industrial Competition)
- NEP-FMK-2011-11-21 (Financial Markets)
- NEP-IND-2011-11-21 (Industrial Organization)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Wassim Daher & Harun Aydilek & Fida Karam & Asiye Adydilek, 2012.
"Insider trading with product differentiation,"
Documents de travail du Centre d'Economie de la Sorbonne
12014, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- Wassim Daher & Harun Aydilek & Fida Karam & Asiye Aydilek, 2012. "Insider Trading With Product Differentiation," UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers) halshs-00676502, HAL.
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