Walrasian Market

Walrasian Market
An economic model of a market process in which orders are collected into batches of buys and sells and then analyzed to determine a clearing price that will decide the market price. Also referred to as "call market".

The NYSE uses a similar process before the opening bell in order to determine opening prices. A specialist will look at all the collected orders for a particular security and select the price that will clear the greatest number of trades. In fact, up until 1871 all trading on the NYSE was executed in this fashion.


Investment dictionary. . 2012.

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