Inner Market as a "Black Box"
classification
❄️ cond-mat.dis-nn
q-fin.TR
keywords
marketinnerstructureanalyzebehaviorblackcasecharacteristic
read the original 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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