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=== Market duration === | === Market duration === | ||
| + | Markets should be open as long as new information streams in, whether information that is exogenous to the market or information that is inferred from market price, and as long as the actual outcome is yet unknown. | ||
| + | |||
| + | The market length can be arbitrarily be defined as: | ||
| + | * '''[[:Category:Short duration|Short]]''' – does not exceed one day, in a laboratory setting usually lasts a few minutes | ||
| + | * '''[[:Category:Medium duration|Medium]]''' – a few days, does not exceed one week | ||
| + | * '''[[:Category:Long duration|Long]]''' – longer than a week | ||
| + | * '''[[:Category:Variable duration|Variable]]''' – the market closing date is defined ad-hoc, and is dictated by the topic of the market and the external events which affect the subject of trade. | ||
=== Interaction === | === Interaction === | ||
