RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets
Equation (7)
E
(
ε
|
ε
−
a
σ
u
2
x
>
k
)
=
R
E
(
t
|
t
≥
k
)
.
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaaeyramaabmaabaGaeqyTduMaaiiFaiabew7aLjabgkHiTiaabggacqaHdpWCdaqhaaWcbaGaaeyDaaqaaiaaikdaaaGccaqG4bGaeyOpa4Jaae4AaaGaayjkaiaawMcaaiabg2da9iaabkfacaaMc8UaaeyramaabmaabaGaaeiDaiaacYhacaqG0bGaeyyzImRaae4AaaGaayjkaiaawMcaaiaac6caaaa@510E@