Titlebook: Solar Sails; A Novel Approach to Giovanni Vulpetti,Les Johnson,Gregory L. Matloff Book 2015Latest edition Springer Science+Business Media

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price fluctuation on order is normal distribution. We show that kurtosis — the measure of high peak and fat tail — increases when all agents become more conservative. We also show that kurtosis increases when a small number of large traders exist in a large number of small traders.