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Harris, 1993 - Google Patents

The winners and losers of the zero-sum game: The origins of trading profits, price efficiency and market liquidity

Harris, 1993

View PDF
Document ID
16713170346046353465
Author
Harris L
Publication year
Publication venue
WP [http://www-rcf. usc. edu/~ lharris/ABSTRACT/Zerosum. htm]

External Links

Snippet

Trading is a zero-sum game when measured relative to underlying fundamental values. No trader can profit without another trader losing. People trade because they obtain external benefits from trading. These benefits include expected returns from holding securities, risk …
Continue reading at www.financnik.cz (PDF) (other versions)

Classifications

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    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
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    • G06Q30/00—Commerce, e.g. shopping or e-commerce
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    • G06Q50/00—Systems or methods specially adapted for a specific business sector, e.g. utilities or tourism
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    • G06Q99/00—Subject matter not provided for in other groups of this subclass

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