How to control stock markets
作者:
ANDREA CONSIGLIO,
期刊:
International Journal of Systems Science
(Taylor Available online 1994)
卷期:
Volume 25,
issue 12
页码: 2245-2253
ISSN:0020-7721
年代: 1994
DOI:10.1080/00207729408949348
出版商: Taylor & Francis Group
数据来源: Taylor
摘要:
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,
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