Size-discovery mechanisms allow large quantities of an asset to be exchanged at a price
that does not respond to price pressure. Primary examples include \workup" in Treasury
markets, \matching sessions" in corporate bond and CDS markets, and block-trading

This paper studies the impact of increasing trading frequency in financial markets on
allocative efficiency. We build and solve a dynamic model of sequential double auctions
in which traders trade strategically with demand schedules. Trading needs are generated

We incorporate a search-theoretic model of imperfect competition into an otherwise standard model
of asymmetric information with unrestricted contracts. We develop a methodology that allows for
a sharp analytical characterization of the unique equilibrium, and then use this...

We develop a model to illustrate that equity-based compensation for non-executive
employees and product market decisions are related. When the product market is com-
petitive and employees have low bargaining power, the unique equilibrium is for each
...

We study how commodity financialization affects information transmission and aggre-
gation in a commodity futures market. The trading of financial traders injects both
fundamental information and unrelated noise into the futures price. Thus, price in-
formativeness in...

We study information spillovers in a dynamic setting with correlated assets owned by privately informed sellers. In the model, a trade of one asset can provide information about the value of other assets. Importantly, the information content of trading behavior...