{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2017:K6Y7XOYXCM4ZU56VTMVC2PQQFM","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"a419bb184100c56335e63f882f86417533cab7bf2a50d052e22fead71ab469a4","cross_cats_sorted":[],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.TR","submitted_at":"2017-06-13T17:03:10Z","title_canon_sha256":"c03f15cfa46f253a5907fc01bb34361669890ce984b60b8bc5bd1369f7df6182"},"schema_version":"1.0","source":{"id":"1706.04163","kind":"arxiv","version":2}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1706.04163","created_at":"2026-05-18T00:25:45Z"},{"alias_kind":"arxiv_version","alias_value":"1706.04163v2","created_at":"2026-05-18T00:25:45Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1706.04163","created_at":"2026-05-18T00:25:45Z"},{"alias_kind":"pith_short_12","alias_value":"K6Y7XOYXCM4Z","created_at":"2026-05-18T12:31:24Z"},{"alias_kind":"pith_short_16","alias_value":"K6Y7XOYXCM4ZU56V","created_at":"2026-05-18T12:31:24Z"},{"alias_kind":"pith_short_8","alias_value":"K6Y7XOYX","created_at":"2026-05-18T12:31:24Z"}],"graph_snapshots":[{"event_id":"sha256:da0c9e264e2b473d6db42b82d51a8fbf7b8588b18a5fb79108b900bc3196ba3d","target":"graph","created_at":"2026-05-18T00:25:45Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"paper":{"abstract_excerpt":"How and why stock prices move is a centuries-old question still not answered conclusively. More recently, attention shifted to higher frequencies, where trades are processed piecewise across different timescales. Here we reveal that price impact has a universal non-linear shape for trades aggregated on any intra-day scale. Its shape varies little across instruments, but drastically different master curves are obtained for order-volume and -sign impact. The scaling is largely determined by the relevant Hurst exponents. We further show that extreme order flow imbalance is not associated with lar","authors_text":"Felix Patzelt, Jean-Philippe Bouchaud","cross_cats":[],"headline":"","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.TR","submitted_at":"2017-06-13T17:03:10Z","title":"Universal scaling and nonlinearity of aggregate price impact in financial markets"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1706.04163","kind":"arxiv","version":2},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:c31f609db95d205add3046505804156e1fa57ee6a9ed066fe752d904c77ccd2d","target":"record","created_at":"2026-05-18T00:25:45Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"a419bb184100c56335e63f882f86417533cab7bf2a50d052e22fead71ab469a4","cross_cats_sorted":[],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.TR","submitted_at":"2017-06-13T17:03:10Z","title_canon_sha256":"c03f15cfa46f253a5907fc01bb34361669890ce984b60b8bc5bd1369f7df6182"},"schema_version":"1.0","source":{"id":"1706.04163","kind":"arxiv","version":2}},"canonical_sha256":"57b1fbbb1713399a77d59b2a2d3e102b394edbac09f6450932829fc7d35b1e84","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"57b1fbbb1713399a77d59b2a2d3e102b394edbac09f6450932829fc7d35b1e84","first_computed_at":"2026-05-18T00:25:45.563086Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-05-18T00:25:45.563086Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"5dQCjnPdxk0HXVwNq3N08KYW3XQPnr5J5I8UGeO8sZLm4g54CUW2ddz4N0U+lGooO0/UBdBBMKHkbll4h5JiBw==","signature_status":"signed_v1","signed_at":"2026-05-18T00:25:45.563697Z","signed_message":"canonical_sha256_bytes"},"source_id":"1706.04163","source_kind":"arxiv","source_version":2}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:c31f609db95d205add3046505804156e1fa57ee6a9ed066fe752d904c77ccd2d","sha256:da0c9e264e2b473d6db42b82d51a8fbf7b8588b18a5fb79108b900bc3196ba3d"],"state_sha256":"8395d5f1f0a7425491f5aff180e47bb2a11782ab9b21dc396eead273a74daaf4"}