      In another study on market orders by Ross, Shapiro, and Smith18, theauthors conclude that price improvements of market orders in 1/8 pointmarkets (then the minimum variation market) are not so uncommon, as mighthave been previously thought. They found that about 40 percent of marketorders in such cases received price improvements. They also found thatprice improvements are much more common in more actively traded stocks, andthat most improvements (73 percent) were from interaction of market orderswith other orders, not the specialist.