A Theory of Stock Exchange Competition and Innovation: Will the Market Fix the Market?
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- Eric Budish & Robin S. Lee & John J. Shim, 2019. "A Theory of Stock Exchange Competition and Innovation: Will the Market Fix the Market?," NBER Working Papers 25855, National Bureau of Economic Research, Inc.
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Cited by:
- Brolley, Michael & Zoican, Marius, 2023. "Liquid speed: A micro-burst fee for low-latency exchanges," Journal of Financial Markets, Elsevier, vol. 64(C).
- Wolfgang Kuhle, 2023. "Latency arbitrage and the synchronized placement of orders," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-18, December.
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More about this item
Keywords
market design; innovation; financial exchanges; industrial organization; platform markets; high-frequency trading;All these keywords.
JEL classification:
- D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
- D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
- D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design
- D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- G1 - Financial Economics - - General Financial Markets
- G2 - Financial Economics - - Financial Institutions and Services
- G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
- L5 - Industrial Organization - - Regulation and Industrial Policy
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