Hauser, Florian; LiCalzi, Marco - Dipartimento di Management, Università Ca' Foscari Venezia - 2011
We study the evolution of trading strategies in double auctions as the size of the market gets larger. When the number of buyers and sellers is balanced, Fano et al. (2011) show that the choice of the order-clearing rule (simultaneous or asynchronous) steers the emergence of fundamentally...