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METHOD:PUBLISH
BEGIN:VEVENT
DTSTAMP:20241105T133432Z
DTSTART:20241106T170000Z
DTEND:20241106T180000Z
SUMMARY:MET Seminar - Simon Jantschgi
UID:{http://www.columbasystems.com/customers/uom/gpp/eventid/}kp6-m14qg8o
 g-41mglw
DESCRIPTION:Title: The Hidden Cost of Zero-Commission\n\nAbstract: This p
 aper studies how transaction cost transparency influences incentives and
  welfare in two-sided markets. Hidden transaction costs induce price cyc
 les in markets that would be stable with transparent transaction costs. 
 To compete with hidden transaction costs\, platforms with transparent co
 sts must reduce them below the optimal monopolist level. In equilibrium\
 , more risk-averse traders prefer transparent transaction costs\, while 
 less risk-averse traders choose hidden transaction costs. Depending on t
 rader's risk-attitudes\, transparent transaction costs can be more or le
 ss efficient than hidden transaction costs. Moreover\, hidden transactio
 n costs can potentially lead to market failure\, as forward-looking trad
 ers may exploit price cycles.\n\nSpeaker website: https://www.simonjants
 chgi.com/\n\nContact: david.delacretaz@manchester.ac.uk
STATUS:TENTATIVE
TRANSP:TRANSPARENT
CLASS:PUBLIC
LOCATION:Boardroom 2.016\, Arthur Lewis Building\, Manchester
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