Principles of market activity by Robert Pisani
ARTICLE SYNOPSIS ...Principles of market activity
by Robert Pisani
Fundamental to the branch of applied economics that I call Market Structure Analysis are three
principles which I modestly call ""the Pisani Principles."" These elementary principles, certainly known to
merchants--at least intuitively--since commerce began, describe the inherent relationships between
price, volume and time, and point the way to the proper interpretation of this kind of market data.
The Pisani Principles apply to any free market, for they are perfectly general and express the motivations
of market participants in a way that is, in ...