Inner Market as a "Black Box"

Ari Belenkiy

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arXiv · cond-mat/0106401

Inner Market as a "Black Box"

Ari Belenkiy

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Abstract

Each market has its singular characteristic. Its inner structure is directly responsible for the observed distributions of returns though this fact is widely overlooked. Big orders lead to doubling the tails. The behavior of a market maker with many or few ``friends'' who can reliably loan money or stock to him is quite different from the one without. After representing the inner market ``case'' we suggest how to analyze its structure.

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Ari Belenkiy. 2001-06-20. Inner Market as a "Black Box". https://arxiv.org/abs/cond-mat/0106401

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