%0 Journal Article
%T The impact of call auction algorithm on stock price<br>集合竞价算法对股票价格的影响
%A SUN You-fa
%A ZHANG Cheng-ke
%A LIU Cai-yan
%A YUE Hu
%A MA Zan-fu
%A WU Sai
%A <br>孙有发
%A 张成科
%A 刘彩燕
%A 岳鹄
%A 马赞甫
%A 武赛
%J 系统工程理论与实践
%D 2011
%I 
%X The model of call auction and its algorithm were constructed to investigate the impact of deal-price decision rule in call auction on stock price from both static and dynamical aspects.Conclusions obtained via theoretical analysis and financial experiments are:1) the different deal-price decision rule in call auction generates completely different stock price;2) the impact of deal-price decision rule on stock price is lasting and significant;3) as far as the function of reducing the systematic risk for stoc...
%K stock price
%K experimental finance
%K call auction algorithm
%K artificial stock market
%K numerical simulation<br>股票价格
%K 实验金融学
%K 集合竞价算法
%K 人工股票市场
%K 数值仿真
%U http://www.alljournals.cn/get_abstract_url.aspx?pcid=01BA20E8BA813E1908F3698710BBFEFEE816345F465FEBA5&cid=962324E222C1AC1D&jid=1D057D9E7CAD6BEE9FA97306E08E48D3&aid=DF7611D9A9682D02FBA131D64F2B74C7&yid=9377ED8094509821&vid=4AD960B5AD2D111A&iid=CA4FD0336C81A37A&sid=D3E34374A0D77D7F&eid=42425781F0B1C26E&journal_id=1000-6788&journal_name=系统工程理论与实践&referenced_num=0&reference_num=16