Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/22489
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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 tradetransparency on the price formation process and its results using a more realistic design thanrelated studies. The open orderbook does not improve informational efficiency and does notresult in higher liquidity (lower transaction costs). An increase in information intensity leads toboth higher trading volume and higher volatility in both orderbook treatments. The comparisonshows that they only differ in price volatility which is higher with an open orderbook. Themarket results mentioned above are confirmed by analyses on the individual level.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseries|aBank- und Finanzwirtschaftliche Forschung: Diskussionsbeiträge des Lehrstuhls für Betriebswirtschaftslehre, insbesondere Finanzwirtschaft, Universität Bamberg |x6en_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-

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