<div dir="ltr">Dear all,<div><br></div><div>Valerio's talk in today at 1:15pm.</div><div><br></div><div>Also start from this session, we will RECORD each talk and make it available to those who want to watch it later on (with the speaker's permission).</div><div><br></div><div>To that end, the online participation has been CHANGED to: <a href="https://goo.gl/VWIHZp">https://goo.gl/VWIHZp</a></div><div><br></div><div>Cheers,</div><div>Dengji</div><div><div class="gmail_extra">
<br><div class="gmail_quote">On 30 June 2015 at 12:52, Dengji Zhao <span dir="ltr"><<a href="mailto:d.zhao@soton.ac.uk" target="_blank">d.zhao@soton.ac.uk</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left-width:1px;border-left-color:rgb(204,204,204);border-left-style:solid;padding-left:1ex"><div dir="ltr"><div style="font-size:13px">Dear all,</div><div style="font-size:13px"><br></div><div style="font-size:13px"><div>In this Wednesday's game theory reading group, AIC PhD candidate Valerio Restocchi will talk about his research on measuring market composition.</div><div><br></div><div>Time/Venue: 1 July, 1:15pm - 2:00pm / B32 3073</div><div><br></div><div>Online participation: <a href="http://goo.gl/bTKsje" target="_blank">http://goo.gl/bTKsje</a></div><div><br></div><div>Title: </div><div>Measuring market composition through the favourite-longshot bias<br></div><div><br></div></div><div style="font-size:13px">Abstract:</div><div style="font-size:13px"><p class="MsoNormal">The favourite-longshot bias is a recurring anomaly affecting time-limited markets, in which those events characterised by high (low) probability of realisation are, on average, underpriced (overpriced). I will talk about the model we developed for explaining this anomaly, showing how skewing prices and therefore causing the favourite-longshot bias is the best strategy for the market maker if the market is populated by heterogeneous agents. I will also show how this model can be used as a tool for getting new insights about time-limited markets, especially about market composition and efficiency.<br></p><p class="MsoNormal"><br></p></div><div style="font-size:13px">To access all previous talks: <a href="https://sites.google.com/site/sotonecsreadinggroups/resources" target="_blank">https://sites.google.com/site/sotonecsreadinggroups/resources</a></div><div style="font-size:13px"><br></div><div style="font-size:13px">Best,</div><div style="font-size:13px">Dengji</div>
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