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What is the Optimal Trading Frequency in Financial Markets?
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- Huh, Yesol & Kim, You Suk, 2023. "Cheapest-to-deliver pricing, optimal MBS securitization, and welfare implications," Journal of Financial Economics, Elsevier, vol. 150(1), pages 68-93.
- Rodney Garratt & David Murphy & Travis D. Nesmith & Xiaopeng Wu, 2023. "Optimal Bidder Selection in Clearing House Default Auctions," Finance and Economics Discussion Series 2023-033, Board of Governors of the Federal Reserve System (U.S.).
- Maryam Farboodi & Laura Veldkamp, 2017. "Long Run Growth of Financial Technology," NBER Working Papers 23457, National Bureau of Economic Research, Inc.
- Ravi Jagannathan, 2022.
"On Frequent Batch Auctions for Stocks [Tail Expectation and Imperfect Competition in Limit Order Book Markets],"
Journal of Financial Econometrics, Oxford University Press, vol. 20(1), pages 1-17.
- Ravi Jagannathan, 2019. "On Frequent Batch Auctions for Stocks," NBER Working Papers 26341, National Bureau of Economic Research, Inc.
- Zhang, Anthony Lee, 2022. "Competition and manipulation in derivative contract markets," Journal of Financial Economics, Elsevier, vol. 144(2), pages 396-413.
- Pio Baake & Sebastian Schwenen & Christian von Hirschhausen, 2020. "Local Power Markets," Discussion Papers of DIW Berlin 1904, DIW Berlin, German Institute for Economic Research.
- Daniel Chen & Darrell Duffie, 2021.
"Market Fragmentation,"
American Economic Review, American Economic Association, vol. 111(7), pages 2247-2274, July.
- Daniel Chen & Darrell Duffie, 2020. "Market Fragmentation," NBER Working Papers 26828, National Bureau of Economic Research, Inc.
- Chen, Daniel & Duffie, Darrell, 2020. "Market Fragmentation," Research Papers 3854, Stanford University, Graduate School of Business.
- Robert B. Wilson, 2021.
"Strategic Analysis of Auctions,"
Econometrica, Econometric Society, vol. 89(2), pages 555-561, March.
- Wilson, Robert, 1992. "Strategic analysis of auctions," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 8, pages 227-279, Elsevier.
- Rahi, Rohit, 2021.
"Information acquisition with heterogeneous valuations,"
Journal of Economic Theory, Elsevier, vol. 191(C).
- Rahi, Rohit, 2021. "Information acquisition with heterogeneous valuations," LSE Research Online Documents on Economics 107152, London School of Economics and Political Science, LSE Library.
- Roşu, Ioanid, 2019. "Fast and slow informed trading," Journal of Financial Markets, Elsevier, vol. 43(C), pages 1-30.
- Veldkamp, Laura & Farboodi, Maryam, 2018. "Long Run Growth of Financial Data Technology," CEPR Discussion Papers 13278, C.E.P.R. Discussion Papers.
- Shiyang Huang & Bart Zhou Yueshen, 2021. "Speed Acquisition," Management Science, INFORMS, vol. 67(6), pages 3492-3518, June.
- Lou, Youcheng & Rahi, Rohit, 2023. "Information, market power and welfare," LSE Research Online Documents on Economics 120479, London School of Economics and Political Science, LSE Library.
- Maryam Farboodi & Laura Veldkamp, 2018. "Long Run Growth of Financial Data Technology," Working Papers 18-09, New York University, Leonard N. Stern School of Business, Department of Economics.
- Marjolein E. Verhulst & Philippe Debie & Stephan Hageboeck & Joost M. E. Pennings & Cornelis Gardebroek & Axel Naumann & Paul van Leeuwen & Andres A. Trujillo‐Barrera & Lorenzo Moneta, 2021.
"When two worlds collide: Using particle physics tools to visualize the limit order book,"
Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 41(11), pages 1715-1734, November.
- Marjolein E. Verhulst & Philippe Debie & Stephan Hageboeck & Joost M. E. Pennings & Cornelis Gardebroek & Axel Naumann & Paul van Leeuwen & Andres A. Trujillo-Barrera & Lorenzo Moneta, 2021. "When Two Worlds Collide: Using Particle Physics Tools to Visualize the Limit Order Book," Papers 2109.04812, arXiv.org.
- Thibaut Mastrolia & Tianrui Xu, 2024. "Clearing time randomization and transaction fees for auction market design," Papers 2405.09764, arXiv.org, revised Oct 2024.
- William Fuchs & Andrzej Skrzypacz, 2019.
"Costs and benefits of dynamic trading in a lemons market,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 33, pages 105-127, July.
- Fuchs, William & Skrzypacz, Andrzej, 2013. "Costs and Benefits of Dynamic Trading in a Lemons Market," Research Papers 2133, Stanford University, Graduate School of Business.
- Loertscher, Simon & Muir, Ellen V. & Taylor, Peter G., 2022. "Optimal market thickness," Journal of Economic Theory, Elsevier, vol. 200(C).
- Markus Baldauf & Joshua Mollner, 2020. "High‐Frequency Trading and Market Performance," Journal of Finance, American Finance Association, vol. 75(3), pages 1495-1526, June.
- Rahi, Rohit, 2019. "Information acquisition with heterogeneous valuations," LSE Research Online Documents on Economics 118929, London School of Economics and Political Science, LSE Library.
- Collin-Dufresne, Pierre & Daniel, Kent & Sağlam, Mehmet, 2020.
"Liquidity regimes and optimal dynamic asset allocation,"
Journal of Financial Economics, Elsevier, vol. 136(2), pages 379-406.
- Collin-Dufresne, Pierre & Daniel, Kent & Saglam, Mehmet, 2018. "Liquidity Regimes and Optimal Dynamic Asset Allocation," CEPR Discussion Papers 12737, C.E.P.R. Discussion Papers.
- Glebkin, Sergei & Kuong, John Chi-Fong, 2023. "When large traders create noise," Journal of Financial Economics, Elsevier, vol. 150(2).
- Eric Budish & Robin S. Lee & John J. Shim, 2024.
"A Theory of Stock Exchange Competition and Innovation: Will the Market Fix the Market?,"
Journal of Political Economy, University of Chicago Press, vol. 132(4), pages 1209-1246.
- 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.
- Budish, Eric B. & Lee, Robin S. & Shim, John J., 2020. "A Theory of Stock Exchange Competition and Innovation: Will the Market Fix the Market?," Working Papers 301, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
- Eric Budish & Peter Cramton & Albert S. Kyle & Jeongmin Lee & David Malec, 2022.
"Flow Trading,"
ECONtribute Discussion Papers Series
146, University of Bonn and University of Cologne, Germany.
- Eric Budish & Peter Cramton & Albert S. Kyle & Jeongmin Lee & David Malec, 2023. "Flow Trading," NBER Working Papers 31098, National Bureau of Economic Research, Inc.
- Lester, Benjamin & Shourideh, Ali & Venkateswaran, Venky & Zetlin-Jones, Ariel, 2023.
"Market-making with search and information frictions,"
Journal of Economic Theory, Elsevier, vol. 212(C).
- Benjamin Lester & Ali Shourideh & Venky Venkateswaran & Ariel Zetlin-Jones, 2018. "Market-making with Search and Information Frictions," Working Papers 18-20, Federal Reserve Bank of Philadelphia.
- Benjamin Lester & Ali Shourideh & Venky Venkateswaran & Ariel Zetlin-Jones, 2018. "Market-making with Search and Information Frictions," NBER Working Papers 24648, National Bureau of Economic Research, Inc.
- Benjamin Lester & Ali Shourideh & Venky Venkateswaran & Ariel Zetlin-Jones, 2018. "Market-making with Search and Information Frictions," Working Papers 18-11, New York University, Leonard N. Stern School of Business, Department of Economics.
- Collin-Dufresne, Pierre & Daniel, Kent & Sağlam, Mehmet, 2020.
"Liquidity regimes and optimal dynamic asset allocation,"
Journal of Financial Economics, Elsevier, vol. 136(2), pages 379-406.
- Collin-Dufresne, Pierre & Daniel, Kent & Saglam, Mehmet, 2018. "Liquidity Regimes and Optimal Dynamic Asset Allocation," CEPR Discussion Papers 12737, C.E.P.R. Discussion Papers.
- Pierre Collin-Dufresne & Kent D. Daniel & Mehmet Saǧlam, 2018. "Liquidity Regimes and Optimal Dynamic Asset Allocation," NBER Working Papers 24222, National Bureau of Economic Research, Inc.
- Sadzik, Tomasz & Woolnough, Chris, 2021. "Snowballing private information," Journal of Economic Theory, Elsevier, vol. 198(C).
- Eric M. Aldrich & Kristian López Vargas, 2020. "Experiments in high-frequency trading: comparing two market institutions," Experimental Economics, Springer;Economic Science Association, vol. 23(2), pages 322-352, June.
- Lou, Youcheng & Rahi, Rohit, 2023. "Information, market power and welfare," Journal of Economic Theory, Elsevier, vol. 214(C).
- Aquilina, Matteo & Budish, Eric B. & O'Neill, Peter, 2020. "Quantifying the High-Frequency Trading "Arms Race": A Simple New Methodology and Estimates," Working Papers 300, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
- Samuel Antill & Darrell Duffie, 2021.
"Augmenting Markets with Mechanisms [Optimal Execution of Portfolio Transactions],"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(4), pages 1665-1719.
- Samuel Antill & Darrell Duffie, 2017. "Augmenting Markets with Mechanisms," NBER Working Papers 24146, National Bureau of Economic Research, Inc.
- Duffie, Darrell & Antill, Samuel, 2018. "Augmenting Markets with Mechanisms," Research Papers 3623, Stanford University, Graduate School of Business.
- Duffie, Darrell & Antill, Samuel, 2017. "Augmenting Markets with Mechanisms," Research Papers repec:ecl:stabus:3623, Stanford University, Graduate School of Business.
- Twu, Mia & Wang, Jianxin, 2018. "Call auction frequency and market quality: Evidence from the Taiwan Stock Exchange," Journal of Asian Economics, Elsevier, vol. 57(C), pages 53-62.
- Hayashi, Takaki & Nishide, Katsumasa, 2024. "Strategic liquidity provision in high-frequency trading," International Review of Financial Analysis, Elsevier, vol. 93(C).
- Alexander Teytelboym & Shengwu Li & Scott Duke Kominers & Mohammad Akbarpour & Piotr Dworczak, 2021. "Discovering Auctions: Contributions of Paul Milgrom and Robert Wilson," Scandinavian Journal of Economics, Wiley Blackwell, vol. 123(3), pages 709-750, July.
- Jason Allen & Milena Wittwer, 2023. "Intermediary Market Power and Capital Constraints," Staff Working Papers 23-51, Bank of Canada.
- Mark Marner-Hausen, 2022. "Developing a Framework for Real-Time Trading in a Laboratory Financial Market," ECONtribute Discussion Papers Series 172, University of Bonn and University of Cologne, Germany.
- van Kervel, Vincent & Kwan, Amy & Westerholm, P. Joakim, 2023. "Order splitting and interacting with a counterparty," Journal of Financial Markets, Elsevier, vol. 66(C).
- Huang, Wenqian & Zhu, Haoxiang, 2024.
"CCP auction design,"
Journal of Economic Theory, Elsevier, vol. 217(C).
- Wenqian Huang & Haoxiang Zhu, 2021. "CCP Auction Design," BIS Working Papers 938, Bank for International Settlements.
- Eric M. Aldrich & Daniel Friedman, 2023.
"Order Protection Through Delayed Messaging,"
Management Science, INFORMS, vol. 69(2), pages 774-790, February.
- Aldrich, Eric M. & Friedman, Daniel, 2017. "Order protection through delayed messaging," Discussion Papers, Research Professorship Market Design: Theory and Pragmatics SP II 2017-502, WZB Berlin Social Science Center.
- Aldrich, Eric M & Friedman, Daniel, 2019. "Order Protection through Delayed Messaging," Santa Cruz Department of Economics, Working Paper Series qt4938f518, Department of Economics, UC Santa Cruz.
- Akihiko Ikeda & Hiroshi Osano, 2020. "Information Investment Regulation and Portfolio Delegation," KIER Working Papers 1032, Kyoto University, Institute of Economic Research.
- Matteo Aquilina & Eric Budish, 2020. "Quantifying the High-Frequency Trading “Arms Race†: A Simple New Methodology and Estimates," Working Papers 2020-86, Becker Friedman Institute for Research In Economics.
- Milena Wittwer, 2021. "Connecting Disconnected Financial Markets?," American Economic Journal: Microeconomics, American Economic Association, vol. 13(1), pages 252-282, February.
- Eibelshäuser, Steffen & Smetak, Fabian, 2022. "Frequent batch auctions and informed trading," SAFE Working Paper Series 344, Leibniz Institute for Financial Research SAFE.
- Xiao Chen & Jin Hyuk Choi & Kasper Larsen & Duane J. Seppi, 2022. "Learning about latent dynamic trading demand $$^*$$ ∗," Mathematics and Financial Economics, Springer, volume 16, number 1, December.
- Haas, Marlene & Khapko, Mariana & Zoican, Marius, 2021. "Speed and learning in high-frequency auctions," Journal of Financial Markets, Elsevier, vol. 54(C).
- Lou, Youcheng & Rahi, Rohit, 2021. "Information, market power and welfare," LSE Research Online Documents on Economics 118843, London School of Economics and Political Science, LSE Library.
- Joffrey Derchu & Dimitrios Kavvathas & Thibaut Mastrolia & Mathieu Rosenbaum, 2023. "Equilibria and incentives for illiquid auction markets," Papers 2307.15805, arXiv.org.
- Reed, Adam V. & Samadi, Mehrdad & Sokobin, Jonathan S., 2020. "Shorting in Broad Daylight: Short Sales and Venue Choice," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 55(7), pages 2246-2269, November.
- Kerstin Lamert & Benjamin R. Auer & Ralf Wunderlich, 2023. "Discretization of continuous-time arbitrage strategies in financial markets with fractional Brownian motion," Papers 2311.15635, arXiv.org.
- Riggs, Lynn & Onur, Esen & Reiffen, David & Zhu, Haoxiang, 2020. "Swap trading after Dodd-Frank: Evidence from index CDS," Journal of Financial Economics, Elsevier, vol. 137(3), pages 857-886.
- Jun Aoyagi, 2019. "Strategic Speed Choice by High-Frequency Traders under Speed Bumps," ISER Discussion Paper 1050, Institute of Social and Economic Research, Osaka University.
- Chaves, Isaías N. & Ichihashi, Shota, 2024. "Auction timing and market thickness," Games and Economic Behavior, Elsevier, vol. 143(C), pages 161-178.
- Joffrey Derchu & Philippe Guillot & Thibaut Mastrolia & Mathieu Rosenbaum, 2020. "AHEAD : Ad-Hoc Electronic Auction Design," Papers 2010.02827, arXiv.org.