THREE SOLITUDES IN CONTRACT: LAW, DATA, AND THEORY

This note discusses and contrasts the different perspectives that the law, empirical labor economics and contract theory bring to the study of the employment relationship. Understanding the reasons for these different perspectives should give rise to a better understanding of the employment relationship and more effective labor market policy.     

Einzelbesprechungen

Ohne Zusammenfassung     

Irving Fishers Theorie des Zinses

Ohne ZusammenfassungÜbersetzt von Erich Schiff, Wien     

SLIPPAGE AND THE CHOICE OF MARKET OR LIMIT ORDERS IN FUTURES TRADING

Retail futures traders face uncertainty regarding the price they will obtain when trading. This price "surprise," known as slippage, can be substantial. Using unique data from an introducing brokerage for Chicago Board of Trade (CBOT) wheat, corn, and soybean futures contracts, we quantify time-to-clear and the magnitude of slippage. We then identify factors that affect these trade quality measures. Finally, we analyze individual trader choice between market and limit orders and find that the likelihood of placing limit orders, where regulations protect traders from slippage, is greater when order and market characteristic indicate that adverse slippage is likely.     

De officieele Loonstatistiek en hare uitkomsten

's-Gravenhage, Februari 1915