We build an agent-based model to study how the interplay between low- and high- frequency trading affects asset price dynamics. Our main goal is to investigate whether high-frequency trading exacerbates market volatility and generates flash crashes. In the model, low-frequency agents adopt...

This paper investigates the relationships between firm organization attributes, namely a structure á la Chandler, and their inward looking or exploitationʺ attitude in R&D and innovation. We argue that because of sunk costs and learning processes an inward looking behavior is a consequence of...