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dc.contributor.authorOehler, Andreasen
dc.contributor.authorUnser, Matthiasen
dc.date.accessioned2009-01-29T15:00:55Z-
dc.date.available2009-01-29T15:00:55Z-
dc.date.issued1998-
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
dc.language.isoengen
dc.publisher|aOtto-Friedrich-Universität Bamberg, Lehrstuhl für Betriebswirtschaftslehre, insbesondere Finanzwirtschaft |cBambergen
dc.relation.ispartofseries|aDiskussionsbeiträge - Bank- und Finanzwirtschaftliche Forschung (BAFIFO) |x6en
dc.subject.jelG12en
dc.subject.jelD44en
dc.subject.jelG14en
dc.subject.ddc330en
dc.subject.keywordMarket Microstructureen
dc.subject.keywordExperimental Asset Marketsen
dc.subject.keywordOrderbook Transparencyen
dc.subject.keywordIndividual Behavior in Call Marketsen
dc.subject.stwBörsenkursen
dc.subject.stwVolatilitäten
dc.subject.stwBörsenspielen
dc.subject.stwInformationseffizienzen
dc.subject.stwBörsenumsatzen
dc.subject.stwMikrostrukturanalyseen
dc.subject.stwTheorieen
dc.titleMarket Transparency and Call Markets-
dc.typeWorking Paperen
dc.identifier.ppn37904305Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bamfin:6en

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