not sure how much use it has in practice...

it depends on how you define "in practice"

as an investor, if you want to make money by reading this, it has no use

as a researcher, the work is much more valuable than its list price as an authoritative guide to a promising field of research

to my knowledge, Duffie has addressed many practical issues in OTC markets and used a lot of empirical evidence to do the analysis. Because of this project, he became a member of the board of directors of Moody's Corporation.

Let the liquidity become 0

卧槽，买不起