| Article ID: | iaor20032392 |
| Country: | United States |
| Volume: | 47 |
| Issue: | 12 |
| Start Page Number: | 1581 |
| End Page Number: | 1587 |
| Publication Date: | Dec 2001 |
| Journal: | Management Science |
| Authors: | Dewan Sanjeev, Mendelson Haim |
| Keywords: | information |
This note integrates the models of Dewan and Mendelson (DM) and Kyle, extending the DM analysis of time-based competition in financial markets to the case of endogenous liquidity. The results enable us to examine the link between information technology investments, trading strategies, and liquidity.