Circuit Breakers and Market Runs
نویسندگان
چکیده
منابع مشابه
Analysis of Circuit Breakers Using Artificial Stock Market
In various stock markets, there is a system called “circuit breakers” that interrupts dealing of stocks for a certain period when stock price changes greatly. In this paper, we consider the influence of the circuit breakers on a stock market using an agent-based artificial market simulator called “U-Mart”, by controlling the period of interruption and the criterion to invoke the circuit breaker...
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................................................................................................................................................ iii Acknowledgements.................................................................................................................................v Table of
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Voltage Source Converter-High Voltage Direct Current (VSC-HVDC) is the most efficient and reliable method for electrical power transmission over long distances. The greatest challenge with VSC-HVDC system is that short-circuit faults damages the converter valves and the transmission network. The fault clearing time for the available DC breakers are not fast enough and reliable to provide adequa...
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Our paper offers a minimalist model of a run on a financial market. The prime ingredient is that each risk-neutral investor fears having to liquidate after a run, but before prices can recover back to fundamental values. During the run, only the risk-averse market-making sector is willing to absorb shares. To avoid having to possibly liquidate shares at themarginal post-run price—in which case ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2015
ISSN: 1556-5068
DOI: 10.2139/ssrn.2701711