This paper focuses on an analytic approach that has received relatively sparse application in the economics/finance literature: simulation. Providing a laboratory-type environment, simulation can generate data that enable a com- plex environment to be assessed in a tractable manner that might...

Strengthening competition in the equity markets has long been a major public policy objective. This paper turns to another important determinant of market quality, one that has received relatively little attention in the public policy debates: order integration — the way in which orders are...

An interactive guide to successfully trading in today's markets Mastering the Art of Equity Trading Through Simulation is a guidebook to interactive computer trading simulation designed to provide participants with hands-on experience in making tactical decisions and implementing them in...