Market force, ecology and evolution
Markets have internal dynamics leading to excess volatility and other phenomena that are difficult to explain using rational expectations models. This paper studies these using a nonequilibrium price formation rule, developed in the context of trading with market orders. Because this is so much simp...
| מחבר ראשי: | |
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| פורמט: | Journal article |
| יצא לאור: |
1998
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