Insider Behavior under Different Market Structures – Experimental Evidence on Trading Patterns, Manipulation and Profitability

Hornung, P. | Leopold-Wildburger, U. | Mestel, R. | Palan, S.

Central European Journal of Operations Research 23(2), 357-373

Published version | Working paper | Dataset

Paper studying the impact of market opening structure (transparent/intransparent call auction followed by a continuous double auction, or stand-alone continuous double auction) on market efficiency in a market with non-informed and informed traders.