Kyle v. Kyle (85 vs. 89)
(2006)
Journal Article
Bernhardt, D., & Taub., B. (2006). Kyle v. Kyle (85 vs. 89). Annals of Finance, 2(1), 23-38. https://doi.org/10.1007/s10436-005-0031-x
We characterize equilibrium outcomes in a Kyle demand-submission market model of speculative trade. This market design mirrors that used at open on most exchanges, as well as the auction format used for many IPOs. We contrast equilibrium outcomes wit... Read More about Kyle v. Kyle (85 vs. 89).