206
Views
3
CrossRef citations to date
0
Altmetric
Articles

An ecological/evolutionary perspective on high-frequency trading

&
Pages 161-175 | Received 31 Jan 2013, Accepted 10 Jan 2014, Published online: 26 Feb 2014

References

  • Aldridge, I. 2010. High-Frequency Trading: A Practical Guide to Algorithmic Strategies and Trading Systems. Hoboken, NJ: John Wiley.
  • Angel, J., L. Harris, and C. Spatt. 2010. Equity Trading in the 21st Century. Marshall School of Business Working Paper.
  • Arnuk, S., and J. Saluzzi. 2009. “Latency Arbitrage: The Real Power Behind Predatory High Frequency Trading.” http://www.themistrading.com
  • Beck, U. 1992. Risk Society: Towards a New Modernity. London: Sage.
  • Benos, E., and S. Sagade. 2012. High-Frequency Trading Behaviour and Its Impact on Market Quality: Evidence from the UK Equity Market. Working Papers Series, Bank of England. http://www.bankofengland.co.uk/publications/Documents/workingpapers/wp469.pdf
  • Bonaiuti, M. 2011. From Bioeconomics to Degrowth: Georgescu-Roegen's New Economics in Eight Essays. Abingdon: Routledge.
  • Brassier, R. 2007. Nihil Unbound: Enlightenment and Extinction. Basingstoke: Palgrave Macmillan.
  • Brogaard, J., T. Hendershott and R. Riordan. 2013. “High Frequency Trading and Price Discovery”. http://dx.doi.org/10.2139/ssrn.1928510
  • Burkett, P. M. 2006. Marxism and Ecological Economics: Toward a Red and Green Political Economy. Leiden: Brill.
  • Caccioli, F., M. Marsili, and P. Vivo. 2007. “Eroding Market Stability by Proliferation of Financial Instruments.” The European Physical Journal B – Condensed Matter and Complex Systems 71 (4): 467–479. doi: 10.1140/epjb/e2009-00316-y
  • Caffentzis, G., M. Neill, H. Widmer, and J. Willshire. 1980. “The Work/Energy Crisis and the Apocalypse.” Midnight Notes, Issue II,Vol. 1 http://www.midnightnotes.org/workenergyapoc.html
  • Callon, M., Y. Millo, and F. Muniesa. 2007. Market Devices. Oxford: Blackwell.
  • Dacorogna, M. M. 2001. An Introduction to High-Frequency Finance. San Diego, CA: Academic Press.
  • Dieckmanna, U., P. Marrow, and R. Law. 1995. “Evolutionary Cycling in Predator-Prey Interactions: Population Dynamics and the Red Queen.” Journal of Theoretical Biology 176 (1): 91–102. doi: 10.1006/jtbi.1995.0179
  • Esposito, E. 2011. The Future of Futures: The Time of Money in Financing and Society. Cheltenham: Edward Elgar.
  • Farmer, J. D., and A. Lo. 1999. “Frontiers of Finance: Evolution and Efficient Markets.” Proceedings of the National Academy of Sciences 96: 9991–9992. doi: 10.1073/pnas.96.18.9991
  • Farmer, J. D. F., and S. Skouras. 2011. An Ecological Perspective on the Future of Computer Trading. The Future of Computer Trading in Financial Markets – UK Foresight Driver Review – DR6.
  • Galloway, A. R. 2012. The Interface Effect. Cambridge: Polity.
  • Georgescu-Roegen, N. 1971. The Entropy Law and the Economic Process. Cambridge, MA: Harvard University Press.
  • Gialdini, L., and M. Lenglet. 2010. “Financial Intermediaries in an Era of Disintermediation: European Brokerage Firms in a MiFID Context.” SSRN. http://ssrn.com/abstract=1616022 or http://dx.doi.org/10.2139/ssrn.1616022
  • Golub, A. 2011. Overview of High Frequency Trading. Manchester Business School. https://fp7.portals.mbs.ac.uk/Portals/59/docs/MC%20deliverables/WP27%20A%20Golub%20paper%201_IntroHFT.pdf
  • Golub, A., J. Keane, and S.-H. Poon. 2012. “High Frequency Trading and Mini Flash Crashes.” HFT Review. http://arxiv.org/pdf/1211.6667v1.pdf
  • Gould, S. J., and N. Eldredge. 1977. “Punctuated Equilibria: The Tempo and Mode of Evolution Reconsidered.” Paleobiology 3 (2): 115–151.
  • Gray, S., and Williams. 2012. Punctuated Equilibria: The Tempo and Mode of Evolution Reconsidered. October. Exante Hedgeweek Special Report.
  • Gyurkó, L. 2011. The Evolution of Algorithmic Classes, The Future of Computer Trading in Financial Markets. UK Foresight Driver Review – DR17. http://www.bis.gov.uk/assets/foresight/docs/computer-trading/11-1235-dr17-evolution-of-algorithmic-classes
  • Haldane, A. 2011. “The Race to Zero.” International Economic Association Sixteenth World Congress, Beijing, China 8 July. http://www.bankofengland.co.uk/publications/Documents/speeches/2011/speech509.pdf
  • Haldane, A., and R. May. 2011. “Systemic Risk in Banking Ecosystems.” Nature 469 (7330): 351–355. doi: 10.1038/nature09659
  • Hanseth, O., and C. Ciborra. 2007. Risk, Complexity and ICT. Cheltenham: Edward Elgar.
  • Hasbrouck, J., and G. Saar. 2010. “Low-Latency Trading.”. Johnson School Research Paper Series No. 35, AFA 2012 Chicago Meetings Paper, 2 October. http://dx.doi.org/10.2139/ssrn.1695460
  • Hendershott, T., and R. Riordan. 2009. Algorithmic Trading and Information. http://faculty.haas.berkeley.edu/hender/ATInformation.pdf
  • Herrmann-Pillath, C. 2010. “Revisiting the Gaia Hypothesis: Maximum Entropy, Kauffman's ‘Fourth Law’ and Physiosemeiosis”. Frankfurt School of Finance & Management Working Paper Series, 160. http://arxiv.org/abs/1102.3338v1
  • Herrmann-Pillath, C. 2011. The Economics of Identity and Creativity: A Cultural Science Approach. London: Transaction.
  • Herrmann-Pillath, C. 2013. Foundations of Economic Evolution: A Treatise on the Natural Philosophy of Economics. Cheltenham: Edward Elgar.
  • Ho, K. Z. 2009. Liquidated: An Ethnography of Wall Street. Durham, NC: Duke University Press.
  • Jevons, W. S. 1965. The Coal Question : An Inquiry Concerning the Progress of the Nation, and the Probable Exhaustion of Our Coal-Mines. New York: Augustus M. Kelley.
  • Johnson, N., G. Zhao, E. Hunsader, J. Meng, A. Ravindar, S. Carran, and B. Tivnan. 2012. “Financial Black Swans Driven by Ultrafast Machine Ecology.” eprint arXiv:1202.1448. http://arxiv.org/abs/1202.1448/
  • Kallinikos, J. 2011. Governing Through Technology: Information Artefacts and Social Practice. Basingstoke: Palgrave Macmillan.
  • Knorr Cetina, K., and U. Bruegger. 2002. “Global Microstructures: The Virtual Societies of Financial Markets.” The American Journal of Sociology 107 (2): 905–950. doi: 10.1086/341045
  • Knorr Cetina, K., and A. Preda. 2005. The Sociology of Financial Markets. Oxford: Oxford University Press.
  • Lenglet, M. 2011. “Conflicting Codes and Codings: How Algorithmic Trading Is Reshaping Financial Regulation.” Theory, Culture & Society 28 (6): 44–66. doi: 10.1177/0263276411417444
  • Lotka, A. J. 1998. Analytical Theory of Biological Populations. New York: Plenum Press.
  • Mackenzie, D. A. 2009. Material Markets: How Economic Agents Are Constructed. Oxford: Oxford University Press.
  • Mackenzie, D., D. Beunza, Y. Millo, and J. P. Pardo-Guerra. 2012. “Drilling Through the Allegheny Mountains: Liquidity, Materiality and High-Frequency Trading.” http://www.sps.ed.ac.uk/staff/sociology/mackenzie_donald/?a=78186
  • Mackenzie, D. A., F. Muniesa, and L. Siu. 2008. Do Economists Make Markets?: On the Performativity of Economics. Princeton, NJ: Princeton University Press.
  • Menkveld, A. 2012. High Frequency Trading and the New Market Makers. EFA 2011 Paper, AFA 2012 Paper.
  • Metcalfe, S., and J. Foster. 2012. “Economic Emergence: An Evolutionary Economic Perspective.” Journal of Economic Behavior & Organization 82 (2): 420–432. doi: 10.1016/j.jebo.2011.09.008
  • Mirowski, P. 1989. More Heat than Light: Economics as Social Physics, Physics as Nature's Economics. Cambridge: Cambridge University Press.
  • Mirowski, P. 2007. “Markets Come to Bits: Evolution, Computation and Markomata in Economic Science.” Journal of Economic Behavior & Organization 63 (2): 209–242. doi: 10.1016/j.jebo.2005.03.015
  • Mirowski, P. 2010. “Inherent Vice: Minsky, Markomata, and the Tendency of Markets to Undermine Themselves.” Journal of Institutional Economics 6 (4): 415–443. doi: 10.1017/S1744137409990397
  • Morrison, A., & W. J. Wilhelm. 2007. Investment Banking: Institutions, Politics, and Law. Oxford: Oxford University Press.
  • Muniesa, F. 2003. “Des marchés comme algorithmes: sociologie de la cotation électronique à la Bourse de Paris.” PhD, Ecole des Mines de Paris.
  • Muniesa, F., and M. Callon. 2003. “Les marchés économiques comme dispositifs collectifs de calcul.” Réseaux 21 (122): 189–233.
  • Odum, H. T., and C. A. S. Hall. 1995. Maximum Power: The Ideas and Applications of H.T. Odum. Niwot: University Press of Colorado.
  • Ostrom, E. 1990. Governing the Commons: The Evolution of Institutions for Collective Action. Cambridge: Cambridge University Press.
  • Ruxton, G. D., T. N. Sherratt, and M. P. Speed. 2004. Avoiding Attack: The Evolutionary Ecology of Crypsis, Warning Signals and Mimicry. Oxford: Oxford University Press.
  • Salthe, S. N. 1993. Development and Evolution: Complexity and Change in Biology. Cambridge: MIT Press.
  • Shiller, R. J. 2012. Finance and the Good Society. Princeton, NJ: Princeton University Press.
  • Shleifer, A., and L. Summers. 1990. “The Noise Trader Approach to Finance.” Journal of Economic Perspectives 4 (2): 19–33. doi: 10.1257/jep.4.2.19
  • Sornette, D. 2003. Why Stock Markets Crash: Critical Events in Complex Financial Systems. Princeton, NJ: Princeton University Press.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.