Adaptive Trading Rules and Dynamic Market Disequilibrium
Disequilibrium models of security market operation have indicated that, when the information dissemination process is delayed by market friction, the market will be in a disequilibrium condition. Trading rules should be adaptive to changing levels of new information. An economic test (under mechanic...
|Journal Title:||Applied Economics Vol. 16; no. 1; pp. 1 - 14|