A Liquidity-based Model of Security Design

  title={A Liquidity-based Model of Security Design},
  author={Peter M. DeMarzo and Darrell Duffie},
It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for‐profit commercial firm or other commercial purpose without the explicit permission of the Econometric Society. For this purpose, contact Claire Sashi, General Manager, at sashi@econometricsociety.org. 1 We consider the problem of the design and sale of a security backed by specified assets. Given access to higher-return investments, the… CONTINUE READING
Highly Influential
This paper has highly influenced a number of papers. REVIEW HIGHLY INFLUENTIAL CITATIONS
Highly Cited
This paper has 176 citations. REVIEW CITATIONS

6 Figures & Tables



Citations per Year

177 Citations

Semantic Scholar estimates that this publication has 177 citations based on the available data.

See our FAQ for additional information.