The net effects of algorithmic and high-frequency traders mask considerable heterogeneity in how they impact institutional transaction costs. Using regulatory data, we analyze the heterogeneity across individual trading accounts. We develop a method to identify subsets of traders causally related to higher institutional transaction costs...

Using data from VCAT’s registry from July 2012 to June 2014, this paper examines the role of direct costs in influencing planning participation by both planning applicants and objectors across the Melbourne metropolitan area.