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Scientific Advisory Board Review n° 2 - May 2015

The Autorité des marchés financiers (AMF) releases the second volume of its Advisory Scientific Board’s Review. This volume encompasses three papers by members of the AMF Advisory Scientific Board. The first two articles by Luc Arrondel (Paris School of Economics) and Marie-Hélène Broihanne (Université de Strasbourg) highlight the contributions of behavioural finance and its importance for the regulator. In the third article, Thierry Foucault analyses the arbitrage activity of high-frequency traders and its aftermath for markets’ architecture.