search query: @freeterm internalization / total: 6
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| Author: | Kluger, B. D. Wyatt, S. B. |
| Title: | Preferencing, internalization of order flow, and tacit collusion: evidence from experiments |
| Journal: | Journal of Financial and Quantitative Analysis
2002 : SEP, VOL. 37:3, p. 449-469 |
| Index terms: | ASSETS |
| Freeterms: | INTERNALIZATION ORDER FLOW PREFERENCING TACIT COLLUSION |
| Language: | eng |
| Abstract: | This paper examines preferencing arrangements and tacit collusion in laboratory asset markets. In the experiments, dealers may internalize by matching the best quote or by passing orders to the dealer posting the best quote. Although some markets were highly competitive, several markets reached a collusive equilibrium with wide spreads and near complete internalization of order flow. |
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