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dc.contributor.authorOehler, Andreasen_US
dc.contributor.authorUnser, Matthiasen_US
dc.date.accessioned2009-01-29T15:00:55Z-
dc.date.available2009-01-29T15:00:55Z-
dc.date.issued1998en_US
dc.identifier.urihttp://hdl.handle.net/10419/22489-
dc.description.abstractThis paper reports the results of 16 experimental asset markets that explore the effects of trade transparency on the price formation process and its results using a more realistic design than related studies. The open orderbook does not improve informational efficiency and does not result in higher liquidity (lower transaction costs). An increase in information intensity leads to both higher trading volume and higher volatility in both orderbook treatments. The comparison shows that they only differ in price volatility which is higher with an open orderbook. The market results mentioned above are confirmed by analyses on the individual level.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesBank- und Finanzwirtschaftliche Forschung: Diskussionsbeiträge des Lehrstuhls für Betriebswirtschaftslehre, insbesondere Finanzwirtschaft, Universität Bamberg 6en_US
dc.subject.jelG12en_US
dc.subject.jelD44en_US
dc.subject.jelG14en_US
dc.subject.ddc330en_US
dc.subject.keywordMarket Microstructureen_US
dc.subject.keywordExperimental Asset Marketsen_US
dc.subject.keywordOrderbook Transparencyen_US
dc.subject.keywordIndividual Behavior in Call Marketsen_US
dc.subject.stwBörsenkursen_US
dc.subject.stwVolatilitäten_US
dc.subject.stwBörsenspielen_US
dc.subject.stwInformationseffizienzen_US
dc.subject.stwBörsenumsatzen_US
dc.subject.stwMikrostrukturanalyseen_US
dc.subject.stwTheorieen_US
dc.titleMarket Transparency and Call Marketsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn37904305Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bamfin:6-
Appears in Collections:Diskussionsbeiträge, Lst. f. BWL, insb. Finanzwirtschaft, Universität Bamberg

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