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		<title>en&gt;Jayaguru-Shishya: Corrected some &quot;circular reasoning&quot; (CTML A quantitative evaluation tool for CTML...&quot;)</title>
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		<updated>2015-01-01T00:30:40Z</updated>

		<summary type="html">&lt;p&gt;Corrected some &amp;quot;circular reasoning&amp;quot; (CTML A quantitative evaluation tool for CTML...&amp;quot;)&lt;/p&gt;
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				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;← Older revision&lt;/td&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;Revision as of 02:30, 1 January 2015&lt;/td&gt;
				&lt;/tr&gt;&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l1&quot;&gt;Line 1:&lt;/td&gt;
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&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;{{refimprove|date=May 2009}}&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;It &lt;/ins&gt;is &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;very common to have a dental emergency -- &lt;/ins&gt;a &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;fractured tooth, an abscess, or severe pain &lt;/ins&gt;when &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;chewing&lt;/ins&gt;. &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Over-the-counter pain medication &lt;/ins&gt;is &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;just masking &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;problem. Seeing an emergency dentist is critical &lt;/ins&gt;to &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;getting &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;source of &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;problem diagnosed &lt;/ins&gt;and &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;corrected as soon as possible&lt;/ins&gt;.&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Here &lt;/ins&gt;are &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;some common dental emergencies:&amp;lt;br&amp;gt;Toothache: The most common dental emergency&lt;/ins&gt;. &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;This generally means a badly decayed tooth&lt;/ins&gt;. &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;As the pain affects the tooth&#039;&lt;/ins&gt;s &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;nerve&lt;/ins&gt;, &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;treatment involves gently removing &lt;/ins&gt;any &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;debris lodged in &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;cavity &lt;/ins&gt;being &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;careful not &lt;/ins&gt;to &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;poke deep as this will cause severe pain if &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;nerve is touched. Next rinse vigorously with warm water. Then soak a small piece of cotton in oil &lt;/ins&gt;of &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;cloves and insert it &lt;/ins&gt;in the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;cavity. This will give temporary relief until a dentist &lt;/ins&gt;can be &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;reached&lt;/ins&gt;.&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;At times &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;pain may have a more obscure location such &lt;/ins&gt;as &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;decay under an old filling. As this can be only corrected by a dentist there are two things you can do &lt;/ins&gt;to &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;help the pain. Administer &lt;/ins&gt;a &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;pain pill &lt;/ins&gt;(&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;aspirin &lt;/ins&gt;or &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;some other analgesic&lt;/ins&gt;) &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;internally &lt;/ins&gt;or &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;dissolve a tablet in a half glass (4 oz) of warm water holding it in &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;mouth for several minutes before spitting it out. DO NOT PLACE A WHOLE TABLET OR ANY PART OF IT IN THE TOOTH OR AGAINST THE SOFT GUM TISSUE AS IT WILL RESULT IN A NASTY BURN&lt;/ins&gt;.&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Swollen Jaw: This may &lt;/ins&gt;be &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;caused by several conditions &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;most probable being an abscessed tooth&lt;/ins&gt;. &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;In any case the treatment should be &lt;/ins&gt;to &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;reduce pain and swelling. An ice pack held on &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;outside &lt;/ins&gt;of &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;the jaw, &lt;/ins&gt;(&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;ten minutes on and ten minutes off) will take care of both&lt;/ins&gt;. &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;If this does not control the pain, an analgesic tablet can be given every four hours&lt;/ins&gt;.&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;Other Oral Injuries: Broken teeth, cut lips, bitten tongue or lips if severe means a trip to a dentist as soon &lt;/ins&gt;as &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;possible. In the mean time rinse the mouth with warm water and place cold compression the face opposite &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;injury&lt;/ins&gt;. &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;If there &lt;/ins&gt;is &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;a lot of bleeding&lt;/ins&gt;, &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;apply direct pressure to &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;bleeding area. If bleeding does not stop get patient &lt;/ins&gt;to &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;the emergency room of a hospital &lt;/ins&gt;as &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;stitches may be necessary&lt;/ins&gt;.&amp;lt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;br&lt;/ins&gt;&amp;gt;&amp;lt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;br&lt;/ins&gt;&amp;gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Prolonged Bleeding Following Extraction: Place a gauze pad or better still a moistened tea bag &lt;/ins&gt;over the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;socket and have the patient bite down gently on it for 30 to 45 minutes. The tannic acid in the tea seeps into the tissues and often helps stop &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;bleeding&lt;/ins&gt;. &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;If bleeding continues after two hours&lt;/ins&gt;, &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;call the dentist or take patient to the emergency room &lt;/ins&gt;of &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;the nearest hospital&lt;/ins&gt;.&amp;lt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;br&lt;/ins&gt;&amp;gt;&amp;lt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;br&lt;/ins&gt;&amp;gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Broken Jaw: If you suspect the patient&#039;s jaw &lt;/ins&gt;is &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;broken&lt;/ins&gt;, &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;bring the upper and lower teeth together. Put a necktie&lt;/ins&gt;, &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;handkerchief or towel under the chin, tying it over the head to immobilize &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;jaw until you &lt;/ins&gt;can &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;get the patient to a dentist or &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;emergency room &lt;/ins&gt;of &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;a hospital&lt;/ins&gt;.&amp;lt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;br&lt;/ins&gt;&amp;gt;&amp;lt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;br&lt;/ins&gt;&amp;gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Painful Erupting Tooth: In young children teething pain can come from a loose baby tooth or from an erupting permanent tooth. Some relief can be given &lt;/ins&gt;by &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;crushing a little ice &lt;/ins&gt;and &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;wrapping it in gauze or &lt;/ins&gt;a &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;clean piece of cloth &lt;/ins&gt;and &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;putting it directly on the tooth or gum tissue where it hurts&lt;/ins&gt;. &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;The numbing effect &lt;/ins&gt;of &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;the cold&lt;/ins&gt;, &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;along &lt;/ins&gt;with &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;an appropriate dose &lt;/ins&gt;of &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;aspirin&lt;/ins&gt;, &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;usually provides temporary relief&lt;/ins&gt;.&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;&lt;/ins&gt;In &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;young adults&lt;/ins&gt;, an &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;erupting 3rd molar (Wisdom tooth)&lt;/ins&gt;, &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;especially if it is impacted&lt;/ins&gt;, &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;can cause the jaw &lt;/ins&gt;to &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;swell &lt;/ins&gt;and &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;be quite painful&lt;/ins&gt;. &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Often the gum around the tooth will show signs of infection&lt;/ins&gt;. &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Temporary relief can be had by giving aspirin or some other painkiller &lt;/ins&gt;and by &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;dissolving an aspirin &lt;/ins&gt;in &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;half a glass of warm water &lt;/ins&gt;and &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;holding this solution in the mouth over &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;sore gum&lt;/ins&gt;. &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;AGAIN DO NOT PLACE A TABLET DIRECTLY OVER THE GUM OR CHEEK OR USE THE ASPIRIN SOLUTION ANY STRONGER THAN RECOMMENDED TO PREVENT BURNING THE TISSUE&lt;/ins&gt;. The &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;swelling of &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;jaw can be reduced by using an ice pack on &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;outside of &lt;/ins&gt;the &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;face at intervals of ten minutes on and ten minutes off&lt;/ins&gt;.&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;br&amp;gt;&amp;lt;br&amp;gt;If you loved &lt;/ins&gt;this &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;post &lt;/ins&gt;and &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;you would certainly like &lt;/ins&gt;to &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;obtain additional info regarding &lt;/ins&gt;[http://www.&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;youtube&lt;/ins&gt;.&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;com&lt;/ins&gt;/&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;watch?v&lt;/ins&gt;=&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;90z1mmiwNS8 Washington DC Dentist&lt;/ins&gt;] &lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;kindly go to our webpage.&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;In [[financial markets]], &#039;&#039;&#039;market impact&#039;&#039;&#039; &lt;/del&gt;is &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;the effect that &lt;/del&gt;a &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;market participant has &lt;/del&gt;when &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;it buys or sells an asset&lt;/del&gt;. &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;It &lt;/del&gt;is the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;extent &lt;/del&gt;to &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;which &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;buying or selling moves &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;price against the buyer or seller, i.e. upward when buying &lt;/del&gt;and &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;downward when selling&lt;/del&gt;. &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;It is closely related to [[market liquidity]]; in many cases &quot;liquidity&quot; and &quot;market impact&quot; &lt;/del&gt;are &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;synonymous&lt;/del&gt;.&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Especially for large investors, e&lt;/del&gt;.&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;g. [[financial institution]]&lt;/del&gt;s, &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;market impact is a key consideration that needs to be considered before &lt;/del&gt;any &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;decision to move money within or between financial markets. If &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;amount of money &lt;/del&gt;being &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;moved is large (relative &lt;/del&gt;to the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;turnover &lt;/del&gt;of &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;the asset(s) &lt;/del&gt;in &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;question), then &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;market impact &lt;/del&gt;can be &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;several percentage points and needs to be assessed alongside other transaction costs (costs of buying and selling)&lt;/del&gt;. &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt; &lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Market impact can arise because &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;price needs to move to tempt other investors to buy or sell assets (&lt;/del&gt;as &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;counterparties), but also because professional investors may position themselves &lt;/del&gt;to &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;profit from knowledge that &lt;/del&gt;a &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;large investor &lt;/del&gt;(or &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;group of investors&lt;/del&gt;) &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;is active one way &lt;/del&gt;or the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;other&lt;/del&gt;. &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Some financial intermediaries have such low transaction costs that they can profit from price movements that are too small to &lt;/del&gt;be &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;of relevance to &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;majority of investors&lt;/del&gt;.&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;The financial institution that is seeking &lt;/del&gt;to &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;manage its market impact needs to limit &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;pace &lt;/del&gt;of &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;its activity &lt;/del&gt;(&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;e&lt;/del&gt;.&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;g&lt;/del&gt;. &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;keeping its activity below one third of daily turnover) so &lt;/del&gt;as &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;to avoid disrupting &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;price&lt;/del&gt;.&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;== Measuring market impact ==&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Several statistical measures exist. The most common and simplest &lt;/del&gt;is &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Kyle&#039;s Lambda&lt;/del&gt;, &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;defined as &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;slope from regressing absolute returns &lt;/del&gt;to &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;volume over some time window (often &lt;/del&gt;as &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;short as 15 minutes)&lt;/del&gt;. &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;For very short periods, this reduces to simply&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;: &lt;/del&gt;&amp;lt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;math&lt;/del&gt;&amp;gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;\lambda = \frac{|\Delta \mathrm{Price}_t|}{\mathrm{Volume}_t}&lt;/del&gt;&amp;lt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;/math&lt;/del&gt;&amp;gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Volume is typically measured as turn-&lt;/del&gt;over &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;or &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;value of shares traded, not &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;number&lt;/del&gt;. &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Under this measure&lt;/del&gt;, &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;a highly liquid stock is one that experiences a small price change for a given level &lt;/del&gt;of &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;trading volume.&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Kyle&#039;s lambda is named from Albert Kyle&#039;s famous paper on [[market microstructure]]&lt;/del&gt;.&amp;lt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;ref&lt;/del&gt;&amp;gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;{{cite journal|last=Kyle|first=Albert|title=continuous Auctions and Insider Trading|journal=Econometrica|date=November 1985|volume=56|issue=3|pages=129–176}}&lt;/del&gt;&amp;lt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;/ref&lt;/del&gt;&amp;gt;  &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Measuring market impact &lt;/del&gt;is, &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;however&lt;/del&gt;, &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;very difficult task and errors in estimating &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;market impact &lt;/del&gt;can &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;highly impact &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;optimal strategy &lt;/del&gt;of &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;trading&lt;/del&gt;.&amp;lt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;ref&lt;/del&gt;&amp;gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;{{cite journal|last=Moazeni|first=Somayeh|coauthors=Thomas Coleman, Yuying Li|title=Optimal Portfolio Execution Strategies and Sensitivity to Price Impact Parameters|journal=SIAM Journal on Optimization|year=2010|volume=20|issue=3|pages=1620–1654}}&lt;/del&gt;&amp;lt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;/ref&lt;/del&gt;&amp;gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;== Unique challenges for microcap traders ==&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;[[Microcap stock|Microcap]] and [[nanocap]] stocks are characterized &lt;/del&gt;by &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;very low share prices &lt;/del&gt;and a &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;relatively limited float &lt;/del&gt;and &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;thin daily volume&lt;/del&gt;. &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Since these types &lt;/del&gt;of &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;stocks have such limited float and are so thinly-traded&lt;/del&gt;, &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;these stocks are extremely volatile and very susceptible to large price swings.{{Citation needed|date=June 2008}}&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Microcap and nanocap traders often trade in and out of positions &lt;/del&gt;with &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;huge blocks &lt;/del&gt;of &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;shares to make quick money on speculative events. And therein lies a problem that many microcap and nanocap traders face: with so little float available, thin volume and large block orders&lt;/del&gt;, &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;there is a shortage of shares&lt;/del&gt;. In &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;many instances orders only get partially filled.{{Citation needed|date=June 2008}}&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;== Example ==&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Suppose an institutional investor places a limit order to sell 1,000&lt;/del&gt;,&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;000 shares of stock XYZ at $10.00 per share.  Now a professional investor may see this, and place &lt;/del&gt;an &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;order to short sell 1&lt;/del&gt;,&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;000&lt;/del&gt;,&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;000 shares of XYZ at $9.99 per share.&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;* Stock XYZ rises in price &lt;/del&gt;to &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;$9.99 &lt;/del&gt;and &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;keeps going up past $10&lt;/del&gt;.&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;00&lt;/del&gt;. &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt; The professional investor sells at $9.99 &lt;/del&gt;and &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;covers his short position &lt;/del&gt;by &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;buying from the institutional investor.  His loss is limited to $0.01 per share.&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;* Stock XYZ rises &lt;/del&gt;in &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;price to $9.99 &lt;/del&gt;and &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;then comes back down.  The professional investor sells at $9.99 and covers his short position when &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;stock declines.  The professional investor can gain $&lt;/del&gt;.&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;10 or more per share with very little risk&lt;/del&gt;. &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt; &lt;/del&gt;The &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;institutional investor is unhappy, because he saw &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;market price rise to $9.99 and come back down, without his order getting filled.&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;Effectively, &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;institutional investor&#039;s large order has given an option to &lt;/del&gt;the &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;professional investor&lt;/del&gt;. &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt; Institutional investors don&#039;t like &lt;/del&gt;this&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;, because either the stock price rises to $9.99 &lt;/del&gt;and &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;comes back down, without them having the opportunity to sell,  or the stock price rises &lt;/del&gt;to &lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;$10.00 and keeps going up, meaning the institutional investor could have sold at a higher price.&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;== See also ==&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;* [[Market impact cost]] – the [[transaction cost]]s associated with price movements from the market impact&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;== References ==&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;{{Reflist}}&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;==External links==&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;*&lt;/del&gt;[&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;http://eprints.luiss.it/287/ Market impact and trading profile of large trading orders in stock markets]&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;*{{cite web |url=&lt;/del&gt;http://www.&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;math&lt;/del&gt;.&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;nyu.edu&lt;/del&gt;/&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;~almgren/papers/costestim.pdf |format=pdf |accessdate=September 27, 2012 |title=Direct Estimation of Equity Market Impact |date&lt;/del&gt;=&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;May 10, 2005|author=Robert Almgren |author2=Chee Thum |author3=Emmanuel Hauptmann |author4=Hong Li}}&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;[[Category:Financial markets]]&lt;/del&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;del style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;[[Category:Economics]&lt;/del&gt;]&lt;/div&gt;&lt;/td&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-added&quot;&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</summary>
		<author><name>en&gt;Jayaguru-Shishya</name></author>
	</entry>
	<entry>
		<id>https://en.formulasearchengine.com/index.php?title=Model_checking&amp;diff=3972&amp;oldid=prev</id>
		<title>en&gt;David Eppstein: /* Further reading */ Bernhard Steffen (computer scientist)</title>
		<link rel="alternate" type="text/html" href="https://en.formulasearchengine.com/index.php?title=Model_checking&amp;diff=3972&amp;oldid=prev"/>
		<updated>2014-01-28T05:41:50Z</updated>

		<summary type="html">&lt;p&gt;&lt;span class=&quot;autocomment&quot;&gt;Further reading: &lt;/span&gt; &lt;a href=&quot;/index.php?title=Bernhard_Steffen_(computer_scientist)&amp;amp;action=edit&amp;amp;redlink=1&quot; class=&quot;new&quot; title=&quot;Bernhard Steffen (computer scientist) (page does not exist)&quot;&gt;Bernhard Steffen (computer scientist)&lt;/a&gt;&lt;/p&gt;
&lt;a href=&quot;https://en.formulasearchengine.com/index.php?title=Model_checking&amp;amp;diff=3972&amp;amp;oldid=228401&quot;&gt;Show changes&lt;/a&gt;</summary>
		<author><name>en&gt;David Eppstein</name></author>
	</entry>
	<entry>
		<id>https://en.formulasearchengine.com/index.php?title=Model_checking&amp;diff=228401&amp;oldid=prev</id>
		<title>132.231.64.191: /* Tools */ Removed &quot;model checker&quot; from the name where it is redundant</title>
		<link rel="alternate" type="text/html" href="https://en.formulasearchengine.com/index.php?title=Model_checking&amp;diff=228401&amp;oldid=prev"/>
		<updated>2012-08-24T13:08:04Z</updated>

		<summary type="html">&lt;p&gt;&lt;span class=&quot;autocomment&quot;&gt;Tools: &lt;/span&gt; Removed &amp;quot;model checker&amp;quot; from the name where it is redundant&lt;/p&gt;
&lt;a href=&quot;https://en.formulasearchengine.com/index.php?title=Model_checking&amp;amp;diff=228401&quot;&gt;Show changes&lt;/a&gt;</summary>
		<author><name>132.231.64.191</name></author>
	</entry>
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