The Behavior and Impact of Heterogeneous Investors in China’s Stock Index Futures Market: An Agent-Based Model on Cross-Market Trades

Table 13

Impact of futures and cash arbitrageurs on price efficiency in the spot market.

MAE (cents)				MRE (%)
Numbers	Stock	Stock	Stock	Stock	Stock	Stock
0	53	64	93	2.63	3.23	4.42
500	52	64	91	2.60	3.26	4.35
1,000	49	61	90	2.52	3.08	4.30
2,000	43	55	83	2.15	2.78	3.94
3,000	39	49	78	1.95	2.48	3.72