Econometrica: Jul 1966, Volume 34, Issue 3

Stock Market Prices and Volumes of Sales

https://doi.org/0012-9682(196607)34:3<676:SMPAVO>2.0.CO;2-X
p. 676-685

Charles C. Ying

The relationships between stock prices and volumes of sales are examined with the view that they are joint products of a single market mechanism. The results found here tend to support the notion that any model of the stock market which separates prices from volumes or vice versa will inevitably yield incomplete if not erroneous results.

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