RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets
Equation (6)
E
(
ε
|
y
>
k
)
=
∫
k
∞
E
(
ε
|
y
=
t
)
f
(
t
)
dt
=
∫
k
∞
Rt
f
(
t
)
dt
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