Tag Archives: Eric Budish

High Frequency Trading

There has been a lot of buzz about Michael Lewis’s new book and high frequency trading. Eric Budish has a recent paper and proposal that has been getting a lot of attention from policymakers. Here is a Booth debate with Eric … Continue reading

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The High-Frequency Trading Arms Race: Frequent Batch Auctions as a Market Design Response

From Eric Budish, Peter Cramton, and John Shim: We argue that the continuous limit order book is a flawed market design and propose that financial exchanges instead use frequent batch auctions: uniform-price sealed-bid double auctions conducted at frequent but discrete time … Continue reading

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Do fixed patent terms distort innovation? Evidence from cancer clinical trials

A new paper from Heidi Williams, Eric Budish, and Benjamin N. Roin: ABSTRACT: Patents award innovators a fixed period of market exclusivity, e.g., 20 years in the United States. Yet, since in many industries firms file patents at the time of discovery … Continue reading

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