{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/market-liquidity",
 "identifier": "kaal:entity:market-liquidity",
 "name": "Market liquidity",
 "termCode": "market-liquidity",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/market-liquidity.md",
 "sha256": "6eee8d1ed65d57f48fb3f54f749c5c233d7483686a94e17e1a2a36cb8b184b38",
 "additionalProperty": [
  {
   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
  },
  {
   "@type": "PropertyValue",
   "name": "claim_count",
   "value": 3
  },
  {
   "@type": "PropertyValue",
   "name": "work_count",
   "value": 3
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2016",
    "2024"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "non_current_claims",
   "value": 0
  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2714974-027",
   "identifier": "kaal:claim:2714974-027",
   "text": "Alternative risk measures such as value at risk have severe measurement problems, so any direct regulation of leverage would be set conservatively and would substantially limit hedge funds' ability to provide market liquidity.",
   "abstract": "Any attempt to directly regulate leverage would likely be conservative, due to measurement problems, and put major limits on hedge funds' ability to provide market liquidity.",
   "citation": "Kaal and Oesterle, The History of Hedge Fund Regulation in the United States (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2714974",
   "datePublished": "2016",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "applies to direct regulation of hedge fund leverage"
   ],
   "source_pdf_sha256": "7764601d3ed5bb056b58949e8411eff9dfb9855f143719062030c980c5fa801b",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3782216-020",
   "identifier": "kaal:claim:3782216-020",
   "text": "Concentration of power, especially monopolies or trusts, decreases market liquidity, while decentralization of power improves it.",
   "abstract": "Concentration of power (especially monopolies or trusts) decreases liquidity; decentralization of power improves liquidity.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021). SSRN: https://ssrn.com/abstract=3782216",
   "datePublished": "2021",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [],
   "source_pdf_sha256": "f1739743aa06bbc1641cd65da790d531b69d8628ea3f5cc3fcad1bf5a1242373",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/4685567-007",
   "identifier": "kaal:claim:4685567-007",
   "text": "Because Impact 1.0 lacks a liquid and efficient funding marketplace, donors protect their interest by overinvesting in process rather than in impact outcomes directly.",
   "abstract": "Because Impact 1.0 does not support a liquid and efficient marketplace for funding, funding results in Impact 1.0 are logistically difficult to attain. To protect their interest in impact results, donors often overinvest in the process not in impact outcomes directly.",
   "citation": "Wulf A. Kaal, Impact Investing Innovation - From Impact 1.0 to 3.0 (2024). SSRN: https://ssrn.com/abstract=4685567",
   "datePublished": "2024",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "absence of a liquid impact funding marketplace"
   ],
   "source_pdf_sha256": "87fb1be89d2661967ed2b0b673fe26448ded3bc3119b122177a4fc13ae5c085c",
   "status": "current"
  }
 ],
 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'market-liquidity'. Derived node: a roster, not an adjudicated definition."
}