Skip to content
RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets
Equation (3)
A
=
E
(
v
|
η
,
b
)
=
E
(
1
+
|
η
+
ε
|
η
,b
)
=
1
+
η
+
E
(
ε
|
η
,
b
)
≡
1
+
η
+
k
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaacaqGbbGaeyypa0JaaeyramaabmaabaGaaeODaiaacYhacqaH3oaAcaGGSaGaaeOyaaGaayjkaiaawMcaaaqaaiabg2da9iaabweadaqadaqaaiaaigdacqGHRaWkcaGG8bGaeq4TdGMaey4kaSIaeqyTduMaaeiFaiabeE7aOjaabYcacaqGIbaacaGLOaGaayzkaaaabaGaeyypa0JaaGymaiabgUcaRiabeE7aOjabgUcaRiaabweadaqadaqaaiabew7aLjaacYhacqaH3oaAcaGGSaGaaeOyaaGaayjkaiaawMcaaiabggMi6kaaigdacqGHRaWkcqaH3oaAcqGHRaWkcaqGRbaaaaa@6205@