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RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets
Equation
2.
g
(
h
)
−
e
−
h
2
2
[
1
+
1
h
2
]
∫
h
∞
[
1
+
1
h
2
]
e
−
t
2
2
dt
<
e
−
h
2
2
[
1
+
1
h
2
]
∫
h
∞
[
1
+
1
t
2
]
e
−
t
2
2
dt
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