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Zhan Wenjie1; Wang Shouyang2; Zhang Jinlong1; Yan Jie1; Lai K K3
Source Publicationjournalofsystemsscienceandcomplexity
AbstractIn measuring the trade process in a double anction(DA) market,there is not any observable criterion that is able to describe the matching pairs and their transaction order dynamically,In this paper,we propse a new observable criterion called Marshallian deviation.It can be used to measure the distance of a transaction path deviating from the Marshallian path mathematically,and to answer the question why buyers with high values will trade with sellers with low costs in advance in some types of DA but not in others.Furthermore,three factors influencing the Marshallian deviations both in the CDA and in the PDA are also studied.They are repectively the strategic algorithm,the transaction duration and the number of traders.A few intersting findings are presented.
Document Type期刊论文
Affiliation1.School of Management, Hazhong University of Science and Technology
Recommended Citation
GB/T 7714
Zhan Wenjie,Wang Shouyang,Zhang Jinlong,et al. marshalliandeviationnewobservablecriteriontomeasuretransactionpathsindoubleauctionmarkets[J]. journalofsystemsscienceandcomplexity,2002,015(003):261.
APA Zhan Wenjie,Wang Shouyang,Zhang Jinlong,Yan Jie,&Lai K K.(2002).marshalliandeviationnewobservablecriteriontomeasuretransactionpathsindoubleauctionmarkets.journalofsystemsscienceandcomplexity,015(003),261.
MLA Zhan Wenjie,et al."marshalliandeviationnewobservablecriteriontomeasuretransactionpathsindoubleauctionmarkets".journalofsystemsscienceandcomplexity 015.003(2002):261.
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