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RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets
Equation
g
(
h
)
−
∫
h
∞
t
e
−
t
2
2
dt
∫
h
∞
h
e
−
t
2
2
dt
−
e
−
h
2
2
∫
h
∞
e
−
t
2
2
dt
≡
n
(
h
)
d
(
h
)
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