Everyone’s a winner: The market impact of technologically advantaged agents

Richard J. McGee and Johnnie E.V. Johnson

Economics Letters, 2017, vol. 156, issue C, 95-98

Abstract: Using betting data, we show that a market with agents having heterogeneous utility can include a net transfer of wealth to technologically advantaged agents (TAAs) from non-TAAs with the transaction proving beneficial to both in terms of their realized utility.

Keywords: Market making; Market regulation; Heterogeneous agent utility (search for similar items in EconPapers)
JEL-codes: C92 D80 D84 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:156:y:2017:i:c:p:95-98

DOI: 10.1016/j.econlet.2017.04.021

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