In the Glosten and Milgrom (1985) model, dealer spreads will tend to be smaller when arrivals of
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In the Glosten and Milgrom (1985) model, dealer spreads will tend to be smaller when arrivals of buy and sell orders are balanced. Why do such balanced order arrivals tend to produce smaller dealer spreads?
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Unbalanced order arrivals indicate the pres...View the full answer
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