In this paper, we study a model incorporating the retail trader's reluctance to sell into losses. We show that in this setup the informed trader always buys the asset when he receives a favorable signal. However, when the informed trader receives an unfavorable signal, he may not always sell the asset if the signal is moderately bad and the retail trader is reluctant to realize losses. Hence th...

The Reference Model for Open Distributed Processing (RM–ODP) defines an architecture which allows heterogeneous software components to interact, where entities in the system are Objects. In RM–ODP, entire applications may be considered to be Objects. In order to allow dynamic location of services/resources, a Trading function has been defined which is performed by a Trader instance. In this pap...

An open distributed environment can be perceived as a service market where services are freely o ered and requested. Any infrastructure which seeks to provide appropriate mechanisms for such an environment has to include mediator functionality (i.e. a trader) that matches service requests and service o ers. Commonly, the matching process is based upon some IDL{based service type de nition, and ...

Grounded in ethnographic observations, this article offers a commentary on the visible and invisible dynamics of mobility between China West Central Africa. It follows transnational trajectories African trader women takes stock some weight that these shoulder during trips where goods money are set motion. The materiality transported consumer items shapes traders’ experiences immobility. Trader ...

The present work studies the behavior of a monopolistic informed trader in a two-period competitive dealer market. We show that the informed trader may engage in stock price manipulation as a result of the exploitation of his informational advantage (su±cient conditions are provided). The informed trader achieves this manipulation by not trading in the ̄rst period according to the information r...

We are interested in model risk control problems. We study a strategy for the trader which, in a sense, guarantees good performances whatever is the unknown model for the assets of his/her portfolio. The trader chooses trading strategies to decrease the risk and therefore acts as a minimizer; the market systematically acts against the interest of the trader, so that we consider it acts as a max...

This brief technical note introduces PRZI (Parameterised-Response Zero Intelligence), a new form of zero-intelligence trader intended for use in simulation studies auction markets. Like Gode & Sunder's classic Zero-Intelligence Constrained (ZIC) trader, generates quote-prices from random distribution over some specified domain discretely-valued allowable quote-prices. Unlike ZIC, which uses uni...