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Time-Limited Property Rights and Investment Incentives

✍ Scribed by Thomas J. Miceli; C. F. Sirmans


Publisher
Springer US
Year
2005
Tongue
English
Weight
77 KB
Volume
31
Category
Article
ISSN
0895-5638

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✍ Robert I. Webb πŸ“‚ Article πŸ“… 2003 πŸ› John Wiley and Sons 🌐 English βš– 125 KB

## Abstract American exchanges own the price quotations they generate. Access to real‐time price information is highly valued by most market participants. This enables exchanges to exact royalties from the sale of such market information. In this sense, an exchange's ownership of its price quotatio