Market Microstructure

Discover the intricacies of market dynamics with Market Microstructure by Daniel F. Spulber, published by Cambridge University Press in 1999. This comprehensive 408-page volume delves into two pivotal questions: 'Why do firms exist?' and 'How do markets work?' Professor Spulber expertly presents a theory of the firm through various models of intermediation, offering readers a unique perspective on economic structures.

The book contrasts the intermediation framework with traditional analyses, including neoclassical theories, industrial organization, transaction cost economics, and the principal-agent model. Ideal for students and professionals in business and economics, Market Microstructure is an essential resource for anyone seeking to understand the fundamental principles of market behavior and firm dynamics. Enhance your knowledge and explore the depth of economic theory with this insightful work.