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The Journal of Portfolio Management

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Price Discovery: The Economic Function
of a Stock Exchange

Nazli Sila Alan and Robert A. Schwartz
The Journal of Portfolio Management Fall 2013, 40 (1) 124-132; DOI: https://doi.org/10.3905/jpm.2013.40.1.124
Nazli Sila Alan
is a Ph.D. candidate at the Zicklin School of Business, Baruch College, CUNY in New York, NY.
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  • For correspondence: nazli.alan@baruch.cuny.edu
Robert A. Schwartz
is the Marvin M. Speiser Professor of Finance and University Distinguished Professor at the Zicklin School of Business, Baruch College, CUNY in New York, NY.
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  • For correspondence: robert.schwartz@baruch.cuny.edu
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Article Information

vol. 40 no. 1 124-132
DOI 
https://doi.org/10.3905/jpm.2013.40.1.124

Published By 
Pageant Media Ltd
Print ISSN 
0095-4918
Online ISSN 
2168-8656
History 
  • Published online October 31, 2013.

Copyright & Usage 
© 2013 Pageant Media Ltd

Author Information

  1. Nazli Sila Alan
    1. is a Ph.D. candidate at the Zicklin School of Business, Baruch College, CUNY in New York, NY. (nazli.alan{at}baruch.cuny.edu)
  2. Robert A. Schwartz
    1. is the Marvin M. Speiser Professor of Finance and University Distinguished Professor at the Zicklin School of Business, Baruch College, CUNY in New York, NY. (robert.schwartz{at}baruch.cuny.edu)
  1. To order reprints of this article, please contact Dewey Palmieri at dpalmieri{at}iijournals.com or 212-224-3675.
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The Journal of Portfolio Management: 40 (1)
The Journal of Portfolio Management
Vol. 40, Issue 1
Fall 2013
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Price Discovery: The Economic Function
of a Stock Exchange
Nazli Sila Alan, Robert A. Schwartz
The Journal of Portfolio Management Oct 2013, 40 (1) 124-132; DOI: 10.3905/jpm.2013.40.1.124

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Price Discovery: The Economic Function
of a Stock Exchange
Nazli Sila Alan, Robert A. Schwartz
The Journal of Portfolio Management Oct 2013, 40 (1) 124-132; DOI: 10.3905/jpm.2013.40.1.124
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  • Article
    • Abstract
    • PRICE DISCOVERY IS A PUBLIC GOOD
    • THE COMPLEXITY OF PRICE DISCOVERY
    • MARKET STRUCTURE MATTERS
    • INFERRING THE QUALITY OF PRICE DISCOVERY
    • A SPECIFIC STOCK/DAY VIEW OF OPENING VOLATILITY
    • THE DISNEY EXPERIENCE
    • THE DOW 30 EXPERIENCE
    • NASDAQ’S CONTROLLED EXPERIMENT
    • THE EVOLUTION OF VOLATILITY OVER TIME
    • A FOUR-WORD ANSWER
    • ENDNOTES
    • REFERENCES
  • Info & Metrics
  • PDF (Subscribers Only)
  • PDF (Subscribers Only)

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