Information Technology and Trader Competition in Financial Markets: Endogenous Liquidity

This note integrates the models of Dewan and Mendelson (1998) (DM) and Kyle (1985), extending the DM analysis of time-based competition in financial markets to the case of endogenous liquidity. The results enable us to examine the link between information technology investments, trading strategies, and liquidity.

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Year of publication:	2001
Authors:	Dewan, Sanjeev ; Mendelson, Haim
Published in:	Management Science. - Institute for Operations Research and the Management Sciences - INFORMS, ISSN 0025-1909. - Vol. 47.2001, 12, p. 1581-1587
Publisher:	Institute for Operations Research and the Management Sciences - INFORMS
Subject:	Information Technology \| Financial Markets \| Liquidity \| Time-Based Competition

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Extent:	application/pdf
Type of publication:	Article
Other identifiers:	10.1287/mnsc.47.12.1581.10241 [DOI]
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009218150