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Cited by 1,105

The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.

Market Statistics and Technical Analysis: The Role of Volume

BLUME, LAWRENCE, EASLEY, DAVID, O'HARA, MAUREEN·1994·The Journal of Finance
DOI 10.1111/j.1540-6261.1994.tb04424.x
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Abstract

We investigate the informational role of volume and its applicability for technical analysis. We develop a new equilibrium model in which aggregate supply is fixed and traders receive signals with differing quality. We show that volume provides information on information quality that cannot be deduced from the price statistic. We show how volume, information precision, and price movements relate, and demonstrate how sequences of volume and prices can be informative. We also show that traders who use information contained in market statistics do better than traders who do not. Technical analysis thus arises as a natural component of the agents' learning process.

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Crossref · 10.1111/j.1540-6261.1994.tb04424.x

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Metadata

Authors
BLUME, L., EASLEY, D., & O'HARA, M.
Venue
The Journal of Finance
Publisher
Wiley
Published
1994-03
Volume
49
Issue
1
Pages
153-181
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.1994.tb04424.x
OpenAlex
W1966179084
Cited by
1,105
References
3
FWCI
28.51
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Market Statistics and Technical Analysis: The Role of Volume. https://app.cochat.ai/papers/10.1111/j.1540-6261.1994.tb04424.x
The paper
BLUME, L., EASLEY, D., & O'HARA, M. (1994). Market Statistics and Technical Analysis: The Role of Volume. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.1994.tb04424.x

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.