Publisher's Synopsis
Excerpt from Transactional Risk, Market Crashes, and the Role of Circuit Breakers
Bell Communications Research Sloan School of Management, m.i.t.
We thank Jim Gammill, Hank mcmillan Andre Perold, Robert Schwartz, Eric Sirri, Larry Summers, an anonymous referee and seminar participants at the cftc, the sec, the Federal Reserve and the Western Finance meetings for helpful comments.
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