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- W3125891291 abstract "This paper analyzes an Easley and O'Hara (1992) type sequential trading model in an evolutionary setting. We assume that the memory of a market maker is limited, and that traders endogenously choose whether to acquire private information with a fixed cost. We show that the ratio of the informed traders is proportional to the width of the bid ask spread, and that the price converges to the strong-form efficient level exponentially." @default.
- W3125891291 created "2021-02-01" @default.
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- W3125891291 date "2009-03-01" @default.
- W3125891291 modified "2023-09-27" @default.
- W3125891291 title "Evolutionary Sequential Trading" @default.
- W3125891291 hasPublicationYear "2009" @default.
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