Silurian Ischadites tenuis n.sp. (Receptaculitids) from Indiana / Matthew H. Nitecki -- and Charles C. Dapples --.

v.35:no.2(1975)

Natural history and ecology of Fowler's toad, Bufo woodhousei fowleri (Amphibia: Bufonidae), in the Indiana Dunes National Lakeshore / by Felix Breden.

n.s. no.49(1988)

Chicago winter birds / by Colin C. Sanborn, Asst., Division of Birds.

no.2(1922)

Cervifurca nasuta n. gen. et sp. : an interesting member of the Iniopterygidae (Subterbranchialia, Chondrichthyes) from the Pennsylvanian of Indiana, U.S.A. / Rainer Zangerl --.

n.s. no.35(1997)

Cyathocrinites from the Silurian (Wenlock) strata of southeastern Indiana / T. Frest --.

v.35:no.7(1977)

Caryocrinitidae (Echinodermata: Rhombifera) of the Laurel Limestone of southeastern Indiana / T. J. Frest --

v.30:no.4(1975)

Giant short-faced bear (Arctodus simus yukonensis) remains from Fulton County, northern Indiana / Ronald L. Richards --, William D. Turnbull -- ; with an appendix by E.J. Neiburger.

n.s. no.30(1995)

New information on the Holocystites fauna (Diploporita) of the Middle Silurian of Wisconsin, Illinois, and Indiana / Terrence J. Frest --, Donald G. Mikulic -- and Christopher R. C. Paul --.

v.35:no.6(1977)

Fishery statistics of the United States / prepared by Data Management and Statistics Division.

1975

Science policy : USA/USSR / [report prepared for National Science Foundation, Directorate for Scientific, Technological and International Affairs, Division of International Programs].

2

Stellwagen Bank National Marine Sanctuary final environmental impact statement/management plan / Sanctuaries and Reserves Division.

1

Stellwagen Bank National Marine Sanctuary final environmental impact statement/management plan / Sanctuaries and Reserves Division.

2

Security prices and market transparency: the role of prior information

This paper analyzes the role of traders' priors (proper versus improper) on the implications of market transparency by comparing a pre-trade transparent market with an opaque market in a set-up based on Madhavan (1996). We show that prices may be more informative in the opaque market, regardless of how priors are modelled. In contrast, the comparison of market liquidity and volatility in the two market structures are affected by prior specification. Key words: Market microstructure, Transparency, Prior information