The paper introduces a noise-state recursive representation for finite-player dynamic games with dispersed private information, yielding explicit equilibrium characterizations in continuous-time LQG settings.
Donald MacKenzie.An Engine, Not a Camera: How Financial Models Shape Markets
3 Pith papers cite this work. Polarity classification is still indexing.
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A new model derives a convex systemic risk coupling r(φ) that grows superlinearly with AI adoption share, producing a saddle-node bifurcation to algorithmic monoculture and 18-54% tail-loss amplification, validated on SEC 13F holdings data.
In a repeated market-maker/taker game with endogenous price impact, projected stochastic gradient ascent by adaptive agents reaches a region of persistent overpricing in finite time.
citing papers explorer
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Forecasting and Manipulating the Forecasts of Others
The paper introduces a noise-state recursive representation for finite-player dynamic games with dispersed private information, yielding explicit equilibrium characterizations in continuous-time LQG settings.
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Artificial Intelligence and Systemic Risk: A Unified Model of Performative Prediction, Algorithmic Herding, and Cognitive Dependency in Financial Markets
A new model derives a convex systemic risk coupling r(φ) that grows superlinearly with AI adoption share, producing a saddle-node bifurcation to algorithmic monoculture and 18-54% tail-loss amplification, validated on SEC 13F holdings data.
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The Invisible Handshake: Persistent Overpricing by Adaptive Market Agents
In a repeated market-maker/taker game with endogenous price impact, projected stochastic gradient ascent by adaptive agents reaches a region of persistent overpricing in finite time.