Title

On competition for listings

Document Type

Article

Journal/Book Title/Conference

Economics Letters

Volume

114

Issue

3

Publication Date

3-2012

First Page

315

Last Page

318

Abstract

We construct a model whereby stock exchanges take a new role as an information intermediary, notably absent in their roles. We show that exchanges differentiate themselves at subgame perfect equilibrium and will not race to the top or to the bottom.