People experiment with things like that often. Search JStor for market structure or market mircostructure (especially O'Hare). Even in conventional markets the

People experiment with things like that often. Search JStor for market structure or market mircostructure (especially O'Hare). Even in conventional markets there are periods of auctioning and alternative pricing structures. I studied it a while back, but the gist is that single day trading does not nullify panic or mania. At best, it is identical to continuous trading but it is most likely worse. Continuous trading works very well. The problem that is increasingly causing damage is the strong interdependence. Isolated manias and panics may actually be a good thing; when it represents a global tide however...