Equilibrium Fast Traders

Thierry Foucault, Sophie Moinas and Bruno Biais

No 1207, 2014 Meeting Papers from Society for Economic Dynamics

Abstract: adverse selection costs for all, i.e., it generates negative externalities. Therefore equilibrium investment can exceed its welfare– maximizing counterpart.

Date: 2014
New Economics Papers: this item is included in nep-cta, nep-mfd and nep-mst
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