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...

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Journal Title: Applied Economics Vol. 16; no. 1; pp. 1 - 14
Author: D. Nawrocki
Format: Article
Published: Feb 1984
Subjects: