This paper provides a different approach to the analysis of imperfect stock markets. The model we are concerned with is described by the interaction of three institutional classes of agents (the specialist trader, the professional trader and the non-professional trader), sharing different information. The dynamical discrete-time system obtained can be changed into a second-order linear difference equation forced by the fundamental value of the specialist trader. Using typical tools of control theory, we study the behaviour of the professional trader’s fundamental value influenced by the specialist’s one. © 1994 Taylor & Francis Group, LLC.

Consiglio A. (1994). How to control stock markets. INTERNATIONAL JOURNAL OF SYSTEMS SCIENCE, 25(12), 2245-2253 [10.1080/00207729408949348].

How to control stock markets

Consiglio A.
1994

Abstract

This paper provides a different approach to the analysis of imperfect stock markets. The model we are concerned with is described by the interaction of three institutional classes of agents (the specialist trader, the professional trader and the non-professional trader), sharing different information. The dynamical discrete-time system obtained can be changed into a second-order linear difference equation forced by the fundamental value of the specialist trader. Using typical tools of control theory, we study the behaviour of the professional trader’s fundamental value influenced by the specialist’s one. © 1994 Taylor & Francis Group, LLC.
Consiglio A. (1994). How to control stock markets. INTERNATIONAL JOURNAL OF SYSTEMS SCIENCE, 25(12), 2245-2253 [10.1080/00207729408949348].
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/10447/432616
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