When markets freeze, not only are gains from trade left unrealized, but the process of information production through prices, or price discovery, is disrupted as well. Though this latter effect has received much less attention than the former, it constitutes an important source of inefficiency...

The ecologically enhanced versions of the quantitative strategy were superior to those of the baseline portfolio, although all the active strategies exceeded the benchmark for the time frame tested, even after accounting for transaction costs and incorporating style constraints. It was found...