Purpose – The purpose of this paper is to revisit the ordered probit model of Hausman et al. after the NYSE decimalization. Design/methodology/approach –The changed ordered probit model. Findings - The model can somewhat capture the different impact of trading-related “explanatory”...

Purpose – The purpose of this paper is to revisit the ordered probit model of Hausman et al. after the NYSE decimalization. Design/methodology/approach – The changed ordered probit model. Findings – The model can somewhat capture the different impact of trading-related “explanatory”...