This dissertation consists of three self-contained chapters. It contributes to our understanding of how informational and behavioral frictions shape financial market outcomes and how information can be used to improve market performance. In brief, the first chapter studies risk subscription practices and market design in the reinsurance industry. The second chapter revisits the problem of equilibrium existence in quote-driven markets, with connections to screening models in insurance markets. The third chapter explores how the endogenous allocation of limited investor attention affects market characteristics in order-driven mechanisms.
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