eTextbook: Dark Markets
Author(s): Duffie, Darrell
ISBN 10: 0691138966. See all ISBN's
ISBN 13: 9780691138961
Publisher: Princeton University Press
This is an eTextbook Learn More
Over-the-counter (OTC) markets for derivatives, collateralized debt obligations, and repurchase agreements played a significant role in the global financial crisis. Rather than being traded through a centralized institution such as a stock exchange, OTC trades are negotiated privately between market participants who may be unaware of prices that are currently available elsewhere in the market. In these relatively opaque markets, investors can be in the dark about the most attractive available terms and who might be offering them. This opaqueness exacerbated the financial crisis, as regulators and market participants were unable to quickly assess the risks and pricing of these instruments.
Dark Markets offers a concise introduction to OTC markets by explaining key conceptual issues and modeling techniques, and by providing readers with a foundation for more advanced subjects in this field. Darrell Duffie covers the basic methods for modeling search and random matching in economies with many agents. He gives an overview of asset pricing in OTC markets with symmetric and asymmetric information, showing how information percolates through these markets as investors encounter each other over time. This book also features appendixes containing methodologies supporting the more theory-oriented of the chapters, making this the most self-contained introduction to OTC markets available.
All ISBN's for this title:
ISBN 10: 0691138966, ISBN 13: 9780691138961, eISBN 10: 1400840511, eISBN 13: 97814008405191. List price can refer to either the digital or print list price, whichever is available to Kno.
Kno offers a 15-day, no questions asked, money back guarantee for all books you buy or rent through the Kno Bookstore. You are eligible for a full refund so long as you do not exceed the chapter limitation notification that appears in the textbook within a 15-day period.
Kno has the largest collection of digital textbooks on the market today. However, publishers do not have rights to make some of their textbooks available in a digital form. But that is changing over time and Kno is working with our publisher partners to make as many titles available digitally as possible.
An eTextbook is the digital version of a physical textbook.
All eTextbooks provided by Kno.com maintain the exact same page numbers and content as their physical versions.
Well, this is embarrassing.
Your transaction was not completed, please try again.
Sorry, there was a problem and your transaction was not processed completely. Please do not try to purchase this book again.
Instead contact Kno Customer Service at 1.877.935.6648 or by email at email@example.com and provide them with the following message number "1201" and they will resolve the issue.
Oops, looks like you already own this book.
Please check your course manager and review your purchased titles.
Hmmm, that's strange.
It appears that this title is not in our catalog after all.
The transaction did not complete because your credit card was declined. Possible reasons include:
- Your bank or credit card company is having technical issues
- The credit card has expired
- The credit card does not have sufficient funds
Our credit card processing service does not specify the cause, so we recommend calling your credit card provider for details.
In a recent customer survey 54% of students using Kno got an A in their class. Kno has over 70 features that will improve your grades, save you time and help you get smarter!
Here's Just a Taste of What Kno Offers
organizes all your textbooks, PDFs and content in one spot.
instantly converts terms from your textbook into beautifully designed and smart flash cards.
any text on a page.
turns any diagram in a book into a multiple choice quiz.
maps instructional videos, images, and photos to formulas & concepts in your book.