In [13], an algebraic approach to the natural structure of domains of linguistic variables was introduced. In this approach, every linguistic domain can be interpreted as an algebraic structure called a hedge algebra. In this paper, a refinement structure of hedge algebras based on free distributive lattices generated by linguistic hedge operations will be examined in order to model structure o...

The possibility that hedge fund trading destabilizes or creates a volatile market is frequently debated. This hypothesis is in stark contrast to the traditional speculative stabilizing theory that profitable speculation must involve buying when the price is low and selling when the price is high. To test the hypothesis that hedge fund trading is destabilizing we employ a unique dataset from the...