positive feedback-trading

基本解释

This paper models the impact of two kinds of noise traders(sentiment investor and positive feedback trader) on the first-day trading price of IPOs.
构建数学模型分析IPO市场中的噪声交易者（狂热投资者和正向反馈交易者）对新股首日交易价格的影响。
It is the positive feedback trading and self-reinforcing mechanism, which enforced the expectations normalized speed and degree. So the liquidity black hole appears.
正是这种正反馈的交易机制，自我增强了预期归一化的速度与程度，导致流动性黑洞的出现。
The paper finds that there is a positive feedback trading, showing herding behavior between institutional investors, and also the short-time trading exhibits a characteristic of momentum investing.
发现在我国机构投资者的投资存在着以正反馈交易为代表羊群效应特征，并且在短期交易还有一定的惯性特征。