PRICE DISCOVERY, MARKET COMPLETION AND OTHER FANTASIES OF ECONOMISTS

PRICE DISCOVERY, MARKET COMPLETION AND OTHER FANTASIES OF ECONOMISTS By Hazel Henderson ¬© 2013, for IPS Syndication Service While debating a high frequency trader (HFT) recently, I encountered the familiar rationalizations that HFT contributes to liquidity and price discovery in markets. ¬†Assertions about liquidity are hard to justify after the …