RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets
Equation (8)
E
(
t
|
t
≥
k
)
=
σ
E
(
t
/
σ
|
t
/
σ
≥
k
/
σ
)
=
σ
E
(
r
|
r
≥
h
)
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