Big players

pp. 120-138

in: Roger Koppl, Big players and the economic theory of expectations, Berlin, Springer, 2002

Abstract

Big Players are privileged actors who disrupt markets. A Big Player has three defining characteristics. He is big in the sense that his actions influence the market under study. He is insensitive to the discipline of profit and loss. He is arbitrary in the sense that his actions are based on discretion rather than any set of rules. Big Players have power and use it.