Jaquart, Patrick; Motz, Marvin; Köhler, Lutz; … - In: Journal of applied economics 26 (2023) 1, pp. 1-31
We create a simulated financial market and examine the effect of different levels of active and passive investment on fundamental market efficiency. In our simulated market, active, passive, and random investors interact with each other through issuing orders. Active and passive investors select...
