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Sponsored Design Multi-Agent AI Systems Using MCP and A2A: Engineer your own Pyt Design Multi-Agent AI Systems Using MCP and A2A: Engineer your own Pyt

Author

Angelo Ranaldo

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Open access Aug 2026

Realized Illiquidity

We develop a simple theory of realized illiquidity, defined as the ratio of realized volatility to trading volume. Building on the widely used price impact measure of Amihud (2002), we introduce the realized Amihud, which significantly improves measurement accuracy. Our theoretical and numerical results show that it ro...

Demetrio Lacava, Angelo Ranaldo, Paolo Santucci de Magistris · 0 citations

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