Competing on Speed

By Emiliano S. Pagnotta, Thomas Philippon. 2018

188 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

Algorithmic Trading and the Market for Liquidity (2013, unknown): “See Biais, Foucault, and Moinas (2011) and Pagnotta and Philippon (2011) for models where investors compete on their trading algorithm’s speed.”
High Frequency Trading and Price Discovery (2014, background): “Biais, Foucault, and Moinas (2011) and Pagnotta and Philippon (2011) provide models where investors and markets compete on speed.”
News Trading and Speed (2012, unknown): “Σt = E ( (vt − pt )(2) ) , k ∈ {B,F}, (35)”
Has the U.S. Finance Industry Become Less Efficient? on the Theory and Measurement of Financial Intermediation (2015, unknown): “Pagnotta and Philippon (2011) present a model where trading speed can be excessive.”
What Is the Optimal Trading Frequency in Financial Markets (2017, background): “This is different from the welfare question in a number of high-frequencytrading studies, namely whether investments in high-speed trading technology are socially wasteful (see Biais, Foucault, and Moinas (2015), Pagnotta and Philippon (2013), Budish, Cramton, and Shim (2015), and Hoffmann (2014)).”
A Dynamic Limit Order Market with Fast and Slow Traders (2014, background): “Finally, Pagnotta and Philippon (2012) provide a model where competing exchanges invest into speed and compete for investors.”