This paper develops a novel approach to information-based securities trading by characterizing the hidden state of the market, which varies following a Markov process. Extensive...

Recently, Duarte and Young (2009) studied the probability of informed trading (PIN) proposed by Easley et al. (2002) and decomposed it into two parts: the adjusted PIN (APIN) as...

The popularity of stated choice (SC) experiments has produced many design strategies in which researchers use increasingly more complex choice settings to study choice...