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This chapter shows, how DSMP can be applied in interactive decision-making models. The probability to take an action is derived from discrete choice and derives Markov state transition probabilities. At an open order book traders observe and process each change of the decision frame and adjust their decision accordingly. Thus the true interaction process can be pictured step by step. The model’ s realistic character will be shown by a comparison of Xetra’s rules and regs with DSMP’ rules and regs, and comparing NASDAQ and its DSMP version alike.

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Decision Frame Modelling

  • 章节

  • 发表日期：

    2025年

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  • Otto Loistl,
  • Georg Behm,
  • Sascha Bakry

摘要

This chapter shows, how DSMP can be applied in interactive decision-making models. The probability to take an action is derived from discrete choice and derives Markov state transition probabilities. At an open order book traders observe and process each change of the decision frame and adjust their decision accordingly. Thus the true interaction process can be pictured step by step. The model’ s realistic character will be shown by a comparison of Xetra’s rules and regs with DSMP’ rules and regs, and comparing NASDAQ and its DSMP version alike.