Policy Watch
Did Nasdaq Market Makers Implicitly Collude
Bibliographic Data
| ID | 4028874 |
|---|---|
| Authors | William G Christie (Vanderbilt University), Paul H Schultz (The Ohio State University), Paul Schultz (0000-0002-2049-4672, The Ohio State University) |
| Year | 1995 |
| Volume | 9 |
| Issue | 3 |
| Pages | 199-208 |
| Publication date | 1995-08-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Journal of Economic Perspectives (JOURNAL) |
| Journal identifiers | ISSN: 0895-3309 • E-ISSN: 1944-7965 |
| Publisher | American Economic Association (PUBLISHER • US) |
| DOI | 10.1257/jep.9.3.199 |
| OpenAlex | W2083002399 |
| Language | EN |
| Citations received | 2 |
| References cited | 1 |
This paper chronicles the research that led to the conclusion that Nasdaq marketmakers implicitly colluded to maintain supracompetitive spreads (Christie and Schultz, 1994). The paper provides a brief description of the differences between a dealer and an auction market, and highlights the result that NASDAQ marketmakers quoted a majority of large issues exclusively in even-eighths. The paper then provides a personalized description of the events that soon followed, including the publicity surrounding the article, the ensuing antitrust investigation by the Department of Justice, and the abandonment of these agreements once the practice was disclosed
Advertising · Business · Economic Justice · Economics · Financial economics · Industrial organization · Law and economics · Market definition · Market structure · Microeconomics · Political science · Publicity · Banking stability, regulation, efficiency · Consumer Market Behavior and Pricing · Law · Merger and Competition Analysis · Marketing
| Unique citing works | 2 |
|---|---|
| Citations per year | 0,1 |
| Citation span | 2006 - 2008 (3) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 2 |