久久久久亚洲AV成人无码电影,天天色综合网址,夜夜爽天天干,99九九久久精品视频

當(dāng)前位置: > 學(xué)術(shù)報(bào)告 > 文科 > 正文

文科

Risk aversion, public disclosure, and partially informed outsiders

發(fā)布時(shí)間:2020-12-04 瀏覽:

報(bào)告人:劉紅

講座日期:2020-12-08 8:30

報(bào)告地點(diǎn):騰訊會(huì)議ID 783 610 667

講座人簡(jiǎn)介:

劉紅,東北師范大學(xué)數(shù)學(xué)與統(tǒng)計(jì)學(xué)院副教授,博士生導(dǎo)師。2008年博士畢業(yè)于中國科學(xué)院數(shù)學(xué)與系統(tǒng)科學(xué)研究院,師從鞏馥洲研究員。主要研究方向?yàn)殡S機(jī)過程、隨機(jī)分析及其在金融與經(jīng)濟(jì)中的應(yīng)用。主持國家自然科學(xué)基金面上項(xiàng)目、國家自然科學(xué)基金青年基金與天元基金項(xiàng)目各一項(xiàng)。在Automatica, International Review of Economics and Finance,Economic Modelling,North American Journal of Economics and Finance等國際SSCI與SCI雜志上發(fā)表論文多篇。

講座簡(jiǎn)介:

This paper examines the impact of public disclosure and partially informed outsiders on a risk-averse insider’s trading behaviour, market efficiency, market depth, etc. In our model, under the disclosure requirement except for the last auction, the market depth is the same at every auction. When informed outsiders are risk-neutral, in contrast to the case of a risk-averse insider with no informed outsiders, the insider is more concerned about the uncertain future price risk. When the number of informed outsiders increases, the market liquidity goes up, and the insider increases the variance of her random component to hide her trading strategy. However, since the insider is relatively more risk-averse, she pays less attention to doing this on her own. Besides, the order flow provided by informed outsiders and randomly added by the insider injects additional liquidity to the market. When informed outsiders are risk-averse, compared to risk-neutral informed outsiders, an insider is most concerned about trading risks brought by informed outsiders at the beginning of trading. Furthermore, whatever the trader is insider or informed outsider, the more risk-averse trader has the lower expected profits. Moreover, the greater risk aversion of outsiders leads to the smaller depth of the market.

黄色网站大全久久| 亚洲欧美日韩精品一区| 久久精品国产干干红桃| 人妻熟女一区二区三区| 欧美自拍导航| 天堂8中文在线最新版在线| 九六国产精品网站| 日韩人妻乱欲系列,| 高潮的视频网址| 久久久艹逼逼逼逼| 国产特级婬片免费看| 夜夜爽天天综合网| 91蜜臀视频在线观看| 小黄片免费日韩| 一级片在线免费| 六月激情com| 魔镜久久久毛片| 激情欧美麻豆| 国产在线精品成人一区二区| 女人视频中文字幕网站| 成人精品69| 极品教师动漫在线观看免费完整版| 中国AV一区| 免费中文字幕日韩欧美| 5月婷婷色综合| 久久91久久久久麻豆精品| 欧美一本二本三区| 四虎最新地域| 国产精品一区二区三区久久| 66久久久麻豆精品| 无码视频免费网战| 亚洲一区内射后入| 亚洲精品色图| 亚洲青青草av在线| h视频大全成人| 日韩AV在线黄色电影| av大片區| 四虎永久网址在线| 一本色道人人| 亚洲经典欧美激情| 丁香五月 亚洲|