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Cited by 782

The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.

The Dynamics of Dealer Markets Under Competition

HO, THOMAS S. Y., STOLL, HANS R.·1983·The Journal of Finance
DOI 10.1111/j.1540-6261.1983.tb02282.x
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Abstract

The behavior of competing dealers in securities markets is analyzed. Securities are characterized by stochastic returns and stochastic transactions. Reservation bid and ask prices of dealers are derived under alternative assumptions about the degree to which transactions are correlated across stocks at a given time and over time in a given stock. The conditions for interdealer trading are specified, and the equilibrium distribution of dealer inventories and the equilibrium market spread are derived. Implications for the structure of securities markets are examined.

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Crossref · 10.1111/j.1540-6261.1983.tb02282.x

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Metadata

Authors
HO, T. S. Y., & STOLL, H. R.
Venue
The Journal of Finance
Publisher
Wiley
Published
1983-09
Volume
38
Issue
4
Pages
1053-1074
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.1983.tb02282.x
OpenAlex
W2043881376
Cited by
782
References
1
FWCI
7.48
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: The Dynamics of Dealer Markets Under Competition. https://app.cochat.ai/papers/10.1111/j.1540-6261.1983.tb02282.x
The paper
HO, T. S. Y., & STOLL, H. R. (1983). The Dynamics of Dealer Markets Under Competition. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.1983.tb02282.x

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.