MARSHALLIAN DEVIATION: NEW OBSERVABLE CRITERION TO MEASURE TRANSACTION PATHS IN DOUBLE AUCTION MARKETS

Wen Jie ZHAN;Shou Yang WANG;Jin Long ZHANG;Jie YANG;K.K.Lai

Journal of Systems Science & Complexity ›› 2002, Vol. 15 ›› Issue (3) : 261-277.

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Journal of Systems Science & Complexity ›› 2002, Vol. 15 ›› Issue (3) : 261-277.
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MARSHALLIAN DEVIATION: NEW OBSERVABLE CRITERION TO MEASURE TRANSACTION PATHS IN DOUBLE AUCTION MARKETS

  • Wen Jie ZHAN(1),Shou Yang WANG(2),Jin Long ZHANG(3),Jie YANG(3),K.K.Lai(4)
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Abstract

In measuring the trade process in a double auction (DA) market, there is not any observable criterion that is able to describe the matching pairs and their transaction order dynamically. In this paper, we propose a new observable criterion called Marshallian deviation.

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Double auction / Marshallian deviation / transaction path / experimental economics

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Wen Jie ZHAN , Shou Yang WANG , Jin Long ZHANG , Jie YANG , K.K.Lai. MARSHALLIAN DEVIATION: NEW OBSERVABLE CRITERION TO MEASURE TRANSACTION PATHS IN DOUBLE AUCTION MARKETS. Journal of Systems Science and Complexity, 2002, 15(3): 261-277
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