Competition for Order Flow and the Theory of Global Games
The impact of alternative trading systems on securities markets
Paperback Duits 2001 2001e druk 9783824474264Samenvatting
Jutta A. Dönges applies the recent theory of global games to a model of intermarket competition and shows the existence of a unique equilibrium. The author investigates whether and under which circumstances alternative trading systems can co-exist with established securities markets or even replace them.
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