Market Microstructure : Intermediaries and the Theory of the Firm
Author: Daniel F. Spulber
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ISBN: 0521650259
Publisher: Cambridge University Press (13 April, 1999)
Sales Rank: 994,549
Average Customer Rating: 5 out of 5
Customer Reviews
Rating: 5 out of 5
Providing ideas of intermediary firm
This book provides concepts of intermediary firm and its functions in economy. The author starts by introducing Princing Mechanism and Adjustment (with uncertainry) in the first part. He give use a fancy applications in Economic Theory (Gen. Eqlm.) and competition among intermediaries in part II. Part III, he seperates the concepts of matching and searching. Part IV, Adverse Selection and Moral Harzard problems are also given. Part V is Transaction Cost. Part VI is Agency Theory. All are presented with intermediary concepts. The author gives ideas about intermediary in many aspects by collecting lots of papers and conceptualization of thems. The concepts can be used in financial and physical markets. It is indispensable for students who want to study Market Microstructure, Intermediary and E-commerce Concept.
Rating: 5 out of 5
A theory of intermiadiation
Intermediaries play a significant role in market economies. The author identifies that role and develops a conceptual framework of the major functions of intermediaries in markets. The main idea, which goes beyond the classical dichotomy of firms vs. markets, is simple but powerful: firms create and manage markets. I think it is a book that should be read by everyone interested in understanding how markets work. Similar Products
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