Journal Article Price formation on stock exchanges: the evolution of trading within the day Get access MS Gerety, MS Gerety Search for other works by this author on: Oxford Academic Google Scholar JH Mulherin JH Mulherin Search for other works by this author on: Oxford Academic Google Scholar The Review of Financial Studies, Volume 7, Issue 3, July 1994, Pages 609–629, https://doi.org/10.1093/rfs/7.3.609 Published: 01 July 1994
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Gerety et al. (1994) studied this question.
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