Received: 22 July 2018
DOI: 10.1111/mafi.12305

ORIGINAL ARTICLE


Liquidity in competitive dealer markets
Peter Bank1          Ibrahim Ekren2               Johannes Muhle-Karbe3
1Department of Mathematics, Technische
Universitt Berlin, Berlin, Germany          Abstract
2Department of Mathematics, Florida          We study a continuous-time version of the intermedi-
State University, Tallahassee, Florida,        ation model of Grossman and Miller. To wit, we solve
USA
3
                         ...