px improvement even greater for institutions/large funds!
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just a series of moving goalposts with no one wanting to suggest real changes when they could just quietly do what they want and see if it makes them money too
I mean sure, you have to invoke counterfactuals and talk about opportunity costs and it gets a bit abstract but otoh ... opportunity costs are real? I don’t have an easy answer to the question “would markets be better if we put everything on a single l exchange” but it seems like
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a question that it’s worth asking. Throwing up your hands and saying there’s nothing we can do, the issues are too theoretical and abstract, is not an answer we would accept for most other questions.
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i think that this greatly depends on the definition of "better". better for whom?
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