30 citations
- Center for Economic Research and Graduate Education – Economics InstituteCZ2 papers
- Institute for Nuclear ResearchRU2 papers
- Massachusetts Institute of TechnologyUS2 papers
- Moscow Institute of Physics and TechnologyRU2 papers
- National Research Nuclear University MEPhIRU2 papers
- Texas A&M UniversityUS2 papers
- Aarhus UniversityDK1 paper
- Adyghe State UniversityRU1 paper
- All Russia Research Institute of AutomaticsRU1 paper
- Ca' Foscari University of VeniceIT1 paper
- California Institute of TechnologyUS1 paper
- Carnegie Mellon UniversityUS1 paper
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q-fin.RM2026
What Does Deep Hedging Actually Learn? Delta Corrections, Regime Fragility, and Symbolic Distillation
Kirill Zernikov
This paper studies empirical deep hedging for S&P 500 index options under a local downside-shortfall reward. It moves beyond performance comparison by asking what the learned hedge…
econ.EM2026★ 5 cited
Do designated market makers provide liquidity during downward extreme price movements?
Mario Bellia, Kim Christensen, Aleksey Kolokolov +2
We study the trading activity of designated market makers (DMMs) in electronic markets using a unique dataset with audit-trail information on trader classification. DMMs may either…