Hanson, Thomas A. - In: Review of Accounting and Finance 15 (2016) 3, pp. 329-351
Purpose An agent-based market simulation is utilized to examine the impact of high frequency trading (HFT) on various … algorithmic high frequency (HF) traders who retrade by marking up their shares by a fixed percentage. The simulation examines the … Tukey’s post hoc tests. Findings In the simulation results, trading volume, efficiency and total surplus vary directly with …