Security Brokerage Markets under Price Uncertainty
This paper develops a model of security broker behavior under price uncertainty. The model examines the process of matching orders and the determinants of equilibrium brokerage commission rates. Institutional arrangements, search efficiency, execution costs, volume, risk, and the unit price of the s...
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Institutional Knowledge at Singapore Management University
1992
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sg-smu-ink.lkcsb_research-18082010-09-23T06:24:04Z Security Brokerage Markets under Price Uncertainty WU, Chunchi Colwell, Peter This paper develops a model of security broker behavior under price uncertainty. The model examines the process of matching orders and the determinants of equilibrium brokerage commission rates. Institutional arrangements, search efficiency, execution costs, volume, risk, and the unit price of the security are shown to affect equilibrium brokerage commission rates. Some stylized facts of security brokerage are explained. 1992-01-01T08:00:00Z text https://ink.library.smu.edu.sg/lkcsb_research/809 info:doi/10.1016/1042-9573(92)90012-3 Research Collection Lee Kong Chian School Of Business eng Institutional Knowledge at Singapore Management University Business |
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SMU Libraries |
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Asia |
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Singapore Singapore |
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English |
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Business |
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Business WU, Chunchi Colwell, Peter Security Brokerage Markets under Price Uncertainty |
| description |
This paper develops a model of security broker behavior under price uncertainty. The model examines the process of matching orders and the determinants of equilibrium brokerage commission rates. Institutional arrangements, search efficiency, execution costs, volume, risk, and the unit price of the security are shown to affect equilibrium brokerage commission rates. Some stylized facts of security brokerage are explained. |
| format |
text |
| author |
WU, Chunchi Colwell, Peter |
| author_facet |
WU, Chunchi Colwell, Peter |
| author_sort |
WU, Chunchi |
| title |
Security Brokerage Markets under Price Uncertainty |
| title_short |
Security Brokerage Markets under Price Uncertainty |
| title_full |
Security Brokerage Markets under Price Uncertainty |
| title_fullStr |
Security Brokerage Markets under Price Uncertainty |
| title_full_unstemmed |
Security Brokerage Markets under Price Uncertainty |
| title_sort |
security brokerage markets under price uncertainty |
| publisher |
Institutional Knowledge at Singapore Management University |
| publishDate |
1992 |
| url |
https://ink.library.smu.edu.sg/lkcsb_research/809 |
| _version_ |
1770569700604903424 |