Scale Economies in Liquidity Provision: Evidence from Designated Market Makers

Vincent van KervelMauricio LarraínJorge Sabat2026-03-222026-03-22202510.2139/ssrn.5811023https://doi.org/10.2139/ssrn.5811023https://andeanlibrary.org/handle/123456789/84593enMarket liquidityEconomies of scaleEmerging marketsStock (firearms)Monetary economicsBusinessEconomicsStock marketScale (ratio)Liquidity crisisScale Economies in Liquidity Provision: Evidence from Designated Market Makerspreprint