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Jan A., 20th-century Swedish geneticist. See: Böök syndrome.
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Further assume that market order arrivals are executed with limit orders waiting in tHe specialist's book. Then basic queuing theory demonstrates the probability the specialist, and not a limit order, sets the spread is [P.sub.0] = 1-[Mu]/[Lambda].
For a given flow of limit orders, an increase in the proportion of market orders to limit orders can increase spreads as those market orders are filled from the limit orders in the specialist's book. For a given total order flow, the larger the proportion of market to limit (limit to market) orders, the wider (narrower) the spread.

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