Competition for Order Flow and the Theory of Global Games

The impact of alternative trading systems on securities markets

• Author(s): Jutta Dönges,
• Publisher: Springer-Verlag
• Pages: 273
• ISBN_10: 3663077349
  ISBN_13: 9783663077343
  
• Language: en
• Categories: Business & Economics / Management Science , Business & Economics / General , Business & Economics / Management ,

Description:... 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.