The Cox-Ross-Rubinstein model discussed in appendix E was used to generate prices. [fact]
Two words at the top of each screen revealed how Autoquote updated prices: "Cox-Ross." The Cox-Ross-Rubinstein model discussed in appendix E was used to generate prices. Human beings remained in ultimate command: by pressing on the section of the screens marked "lean," traders could manually override model values, and, furthermore, the ebb and flow of orders in actively traded option classes did move prices. Nevertheless, such human interaction was now merely one aspect of a larger technosystem.
Donald MacKenzie, An Engine, Not a Camera, loc. 899