{"bundle_type":"pith_open_graph_bundle","bundle_version":"1.0","pith_number":"pith:2018:BILTDKSFYBLTKEFH6WZKHXMXX5","short_pith_number":"pith:BILTDKSF","canonical_record":{"source":{"id":"1802.08135","kind":"arxiv","version":2},"metadata":{"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.TR","submitted_at":"2018-02-16T14:54:10Z","cross_cats_sorted":["math.PR"],"title_canon_sha256":"77d8acf600e71be8842d7bd031e2b97c7cc0aa8c713a0ce02c5e8679f50d91ee","abstract_canon_sha256":"6c271667be0a3863eb463dc394bb542ccc86fc838a4f4594227044cd115d6512"},"schema_version":"1.0"},"canonical_sha256":"0a1731aa45c0573510a7f5b2a3dd97bf5a71f2e5fd7bc515f1be7894e727b4fd","source":{"kind":"arxiv","id":"1802.08135","version":2},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1802.08135","created_at":"2026-05-18T00:01:15Z"},{"alias_kind":"arxiv_version","alias_value":"1802.08135v2","created_at":"2026-05-18T00:01:15Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1802.08135","created_at":"2026-05-18T00:01:15Z"},{"alias_kind":"pith_short_12","alias_value":"BILTDKSFYBLT","created_at":"2026-05-18T12:32:16Z"},{"alias_kind":"pith_short_16","alias_value":"BILTDKSFYBLTKEFH","created_at":"2026-05-18T12:32:16Z"},{"alias_kind":"pith_short_8","alias_value":"BILTDKSF","created_at":"2026-05-18T12:32:16Z"}],"events":[{"event_type":"record_created","subject_pith_number":"pith:2018:BILTDKSFYBLTKEFH6WZKHXMXX5","target":"record","payload":{"canonical_record":{"source":{"id":"1802.08135","kind":"arxiv","version":2},"metadata":{"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.TR","submitted_at":"2018-02-16T14:54:10Z","cross_cats_sorted":["math.PR"],"title_canon_sha256":"77d8acf600e71be8842d7bd031e2b97c7cc0aa8c713a0ce02c5e8679f50d91ee","abstract_canon_sha256":"6c271667be0a3863eb463dc394bb542ccc86fc838a4f4594227044cd115d6512"},"schema_version":"1.0"},"canonical_sha256":"0a1731aa45c0573510a7f5b2a3dd97bf5a71f2e5fd7bc515f1be7894e727b4fd","receipt":{"kind":"pith_receipt","key_id":"pith-v1-2026-05","algorithm":"ed25519","signed_at":"2026-05-18T00:01:15.129439Z","signature_b64":"S2Y7xFRzWSe+1AhlwhgBbwyNN0JCwW4RejjMKqXWPGA6+6soT5g2HR7horGV4GRTFMnYOKdDWveZblc3o84NBQ==","signed_message":"canonical_sha256_bytes","builder_version":"pith-number-builder-2026-05-17-v1","receipt_version":"0.3","canonical_sha256":"0a1731aa45c0573510a7f5b2a3dd97bf5a71f2e5fd7bc515f1be7894e727b4fd","last_reissued_at":"2026-05-18T00:01:15.129016Z","signature_status":"signed_v1","first_computed_at":"2026-05-18T00:01:15.129016Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"source_kind":"arxiv","source_id":"1802.08135","source_version":2,"attestation_state":"computed"},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-05-18T00:01:15Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"oXaiPp4D2bbNoJG/KqEvAajOWFvkyDsYaaEpZxoFVRrss+FzpLJOj2iX02oIlwaysZHV6qukNV8DYGznJvoCAw==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-05-30T20:58:26.879126Z"},"content_sha256":"389d2e8e557f273ecd39278e8c4d2cad9614ea713c16ef18f214fd3792ca69f4","schema_version":"1.0","event_id":"sha256:389d2e8e557f273ecd39278e8c4d2cad9614ea713c16ef18f214fd3792ca69f4"},{"event_type":"graph_snapshot","subject_pith_number":"pith:2018:BILTDKSFYBLTKEFH6WZKHXMXX5","target":"graph","payload":{"graph_snapshot":{"paper":{"title":"Optimal inventory management and order book modeling","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","headline":"","cross_cats":["math.PR"],"primary_cat":"q-fin.TR","authors_text":"Bruno Bouchard (CEREMADE, David Evangelista (KAUST), ENSAE), Nicolas Baradel (CEREMADE, Othmane Mounjid (CMAP), PSL)","submitted_at":"2018-02-16T14:54:10Z","abstract_excerpt":"We model the behavior of three agent classes acting dynamically in a limit order book of a financial asset. Namely, we consider market makers (MM), high-frequency trading (HFT) firms, and institutional brokers (IB). Given a prior dynamic of the order book, similar to the one considered in the Queue-Reactive models [14, 20, 21], the MM and the HFT define their trading strategy by optimizing the expected utility of terminal wealth, while the IB has a prescheduled task to sell or buy many shares of the considered asset. We derive the variational partial differential equations that characterize th"},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1802.08135","kind":"arxiv","version":2},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"},"verdict_id":null},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-05-18T00:01:15Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"wvXyvu+DpTQtFnQYOJ1+y1r77n+tbz8AFIuO9zYRS1cgFlXImF/gLrNlcjCFb8SIPmYyZ+G4Jhy8ZAMDabokBg==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-05-30T20:58:26.879884Z"},"content_sha256":"6999df356064312d867ad4f621991f505348878b38f04306c9553dd1788c0d17","schema_version":"1.0","event_id":"sha256:6999df356064312d867ad4f621991f505348878b38f04306c9553dd1788c0d17"}],"timestamp_proofs":[],"mirror_hints":[{"mirror_type":"https","name":"Pith Resolver","base_url":"https://pith.science","bundle_url":"https://pith.science/pith/BILTDKSFYBLTKEFH6WZKHXMXX5/bundle.json","state_url":"https://pith.science/pith/BILTDKSFYBLTKEFH6WZKHXMXX5/state.json","well_known_bundle_url":"https://pith.science/.well-known/pith/BILTDKSFYBLTKEFH6WZKHXMXX5/bundle.json","status":"primary"}],"public_keys":[{"key_id":"pith-v1-2026-05","algorithm":"ed25519","format":"raw","public_key_b64":"stVStoiQhXFxp4s2pdzPNoqVNBMojDU/fJ2db5S3CbM=","public_key_hex":"b2d552b68890857171a78b36a5dccf368a953413288c353f7c9d9d6f94b709b3","fingerprint_sha256_b32_first128bits":"RVFV5Z2OI2J3ZUO7ERDEBCYNKS","fingerprint_sha256_hex":"8d4b5ee74e4693bcd1df2446408b0d54","rotates_at":null,"url":"https://pith.science/pith-signing-key.json","notes":"Pith uses this Ed25519 key to sign canonical record SHA-256 digests. Verify with: ed25519_verify(public_key, message=canonical_sha256_bytes, signature=base64decode(signature_b64))."}],"merge_version":"pith-open-graph-merge-v1","built_at":"2026-05-30T20:58:26Z","links":{"resolver":"https://pith.science/pith/BILTDKSFYBLTKEFH6WZKHXMXX5","bundle":"https://pith.science/pith/BILTDKSFYBLTKEFH6WZKHXMXX5/bundle.json","state":"https://pith.science/pith/BILTDKSFYBLTKEFH6WZKHXMXX5/state.json","well_known_bundle":"https://pith.science/.well-known/pith/BILTDKSFYBLTKEFH6WZKHXMXX5/bundle.json"},"state":{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2018:BILTDKSFYBLTKEFH6WZKHXMXX5","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"6c271667be0a3863eb463dc394bb542ccc86fc838a4f4594227044cd115d6512","cross_cats_sorted":["math.PR"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.TR","submitted_at":"2018-02-16T14:54:10Z","title_canon_sha256":"77d8acf600e71be8842d7bd031e2b97c7cc0aa8c713a0ce02c5e8679f50d91ee"},"schema_version":"1.0","source":{"id":"1802.08135","kind":"arxiv","version":2}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1802.08135","created_at":"2026-05-18T00:01:15Z"},{"alias_kind":"arxiv_version","alias_value":"1802.08135v2","created_at":"2026-05-18T00:01:15Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1802.08135","created_at":"2026-05-18T00:01:15Z"},{"alias_kind":"pith_short_12","alias_value":"BILTDKSFYBLT","created_at":"2026-05-18T12:32:16Z"},{"alias_kind":"pith_short_16","alias_value":"BILTDKSFYBLTKEFH","created_at":"2026-05-18T12:32:16Z"},{"alias_kind":"pith_short_8","alias_value":"BILTDKSF","created_at":"2026-05-18T12:32:16Z"}],"graph_snapshots":[{"event_id":"sha256:6999df356064312d867ad4f621991f505348878b38f04306c9553dd1788c0d17","target":"graph","created_at":"2026-05-18T00:01:15Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"paper":{"abstract_excerpt":"We model the behavior of three agent classes acting dynamically in a limit order book of a financial asset. Namely, we consider market makers (MM), high-frequency trading (HFT) firms, and institutional brokers (IB). Given a prior dynamic of the order book, similar to the one considered in the Queue-Reactive models [14, 20, 21], the MM and the HFT define their trading strategy by optimizing the expected utility of terminal wealth, while the IB has a prescheduled task to sell or buy many shares of the considered asset. We derive the variational partial differential equations that characterize th","authors_text":"Bruno Bouchard (CEREMADE, David Evangelista (KAUST), ENSAE), Nicolas Baradel (CEREMADE, Othmane Mounjid (CMAP), PSL)","cross_cats":["math.PR"],"headline":"","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.TR","submitted_at":"2018-02-16T14:54:10Z","title":"Optimal inventory management and order book modeling"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1802.08135","kind":"arxiv","version":2},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:389d2e8e557f273ecd39278e8c4d2cad9614ea713c16ef18f214fd3792ca69f4","target":"record","created_at":"2026-05-18T00:01:15Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"6c271667be0a3863eb463dc394bb542ccc86fc838a4f4594227044cd115d6512","cross_cats_sorted":["math.PR"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.TR","submitted_at":"2018-02-16T14:54:10Z","title_canon_sha256":"77d8acf600e71be8842d7bd031e2b97c7cc0aa8c713a0ce02c5e8679f50d91ee"},"schema_version":"1.0","source":{"id":"1802.08135","kind":"arxiv","version":2}},"canonical_sha256":"0a1731aa45c0573510a7f5b2a3dd97bf5a71f2e5fd7bc515f1be7894e727b4fd","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"0a1731aa45c0573510a7f5b2a3dd97bf5a71f2e5fd7bc515f1be7894e727b4fd","first_computed_at":"2026-05-18T00:01:15.129016Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-05-18T00:01:15.129016Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"S2Y7xFRzWSe+1AhlwhgBbwyNN0JCwW4RejjMKqXWPGA6+6soT5g2HR7horGV4GRTFMnYOKdDWveZblc3o84NBQ==","signature_status":"signed_v1","signed_at":"2026-05-18T00:01:15.129439Z","signed_message":"canonical_sha256_bytes"},"source_id":"1802.08135","source_kind":"arxiv","source_version":2}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:389d2e8e557f273ecd39278e8c4d2cad9614ea713c16ef18f214fd3792ca69f4","sha256:6999df356064312d867ad4f621991f505348878b38f04306c9553dd1788c0d17"],"state_sha256":"cd3620f994f8a8ac03872ba87a00dea28ea7216f04bde92203b9d48a476cfc96"},"bundle_signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"ZAWdvlWqh1Vo0NO4DksSiMz/w93P+w1d2KJwGLUxGHeeupxkzGg6VtUEnRILuvo20HG8e+H+l3pGWoD3V7X3Dg==","signed_message":"bundle_sha256_bytes","signed_at":"2026-05-30T20:58:26.883660Z","bundle_sha256":"fafb31a31973e376156a327dd734090f420d19ea82e7103b001ebad135ead303"}}