RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets Equation

d dh Rg( h ) h = R h 2 [ hg( h )g( h ) ]<0. MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaWaaSaaaeaacaqGKbaabaGaaeizaiaabIgaaaWaaSaaaeaacaqGsbGaae4zamaabmaabaGaaeiAaaGaayjkaiaawMcaaaqaaiaabIgaaaGaeyypa0ZaaSaaaeaacaqGsbaabaGaaeiAamaaCaaaleqabaGaaGOmaaaaaaGcdaWadaqaaiaabIgacaaMc8Uaae4zaeXatLxBI9gBGqvANvMCGueEWvMC0bacfaGae8NmGi6aaeWaaeaacaqGObaacaGLOaGaayzkaaGaeyOeI0Iaae4zamaabmaabaGaaeiAaaGaayjkaiaawMcaaaGaay5waiaaw2faaiabgYda8iaaicdacaGGUaaaaa@58F8@