Episode 2 - Olga, Albert, and Anna discuss "A New Theory about Financial Markets: Invariance"
According to Prof. Albert 'Pete' Kyle and Prof. Anna Obizhaeva, financial markets can be viewed as games played by many players at the same time. The rate at which these games are played—“market velocity”—differs across assets. For actively traded assets, time passes quickly; for inactively traded assets, time passes slowly. Listen to Olga Obizhaeva, Assistant Prof. from SSE and guests Prof. Albert 'Pete' Kyle from University of Maryland's Robert H. Smith School of Business and Prof. Anna Obizhaeva from the New Economic School, Moscow discussing a new invariance theory of financial markets in this episode.