Filtered dossier

Hidden Numbers

Quantities that hide a rule you never agreed to.

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  • No visual on file
    Market Signals Entry #1116

    The reason a hidden order matters more than size

    A hidden order book can signal real demand without advertising size, which is why traders read the queue itself, not just the headline quote.

    Novice
    The hidden part #1116

    In a market, what is hidden can matter as much as what is posted. The visible quote is often only a negotiated fragment of intent.

    Open file
  • No visual on file
    Incentive Design Entry #1115

    Why audits can change before they happen

    Audit incentive effect shifts behaviour before any audit occurs, because the anticipated inspection changes what people choose to hide or report.

    Master
    The hidden part #1115

    The strongest audit is often the one that has not yet arrived but has already changed the records.

    Open file