"I've never had a broker say to me that the size of your allocation will be tied to your market order," he said.
Concerned that the size of its allocation implied a lack of broad investor support, the manager sold all of the firm's Facebook's shares on Friday.
For overseas equities, which represents around half the equity component, he decides the size of the allocation to each geographic area, but individual stock selection is taken care of by other AXA Framlington managers such as Stephen Kelly, who runs the American Growth Fund.
Integrate takes a cut of each transaction, but it varies depending on the vertical and the size of the allocation.
Furthermore, Boles introduced a wrinkle whereby offerers could send a message with their offer, allowing them to be deceptive about the size of the allocation they had available to them in partial information conditions.
For situations where the memory consumption due to given estimate for (N_{max}) becomes prohibitive, one could start with a lower number and for example double the size of the allocation on-the-fly whenever all available space for ghost peaks is occupied.
A sample size of 370 (1:1 allocation) will be sufficient to detect a difference in effects between groups at post-intervention.
The study was block randomized by site (block size of 4); allocation sequence was not provided to investigators.
Some institutional investors were also surprised by the size of their allocations, expecting to get far fewer shares.
The random numbers used to assign the block size and choice of allocation within blocks came from the Rand tables of random digits.
Randomisation was performed using computer-generated randomisation sequences (SAS Institute) using a block design with block sizes of 8. Allocation concealment was performed by placing randomisation numbers in sealed, sequentially numbered envelopes.
