# YB pools: economics, simulation and policy

Agent-readable twin of the public study. The visitor text and chart tables are generated from the same content.

- [The proposal and eight findings](overview.md) · [interactive page](./#overview)
- [Settings and conventions](settings.md) · [interactive page](./#settings)
- [A. How pool shares earn returns](earnings.md) · [interactive page](./#earnings)
  - [A1 What a pool share is worth](earnings-measure.md) · [interactive page](./#earnings/measure)
  - [A2 Where a pool share’s return comes from](earnings-equation.md) · [interactive page](./#earnings/equation)
  - [A3 What contributed to the live pools’ returns](earnings-live.md) · [interactive page](./#earnings/live)
- [B. Rebalancing gains, trading losses and fees](harvesting.md) · [interactive page](./#harvesting)
  - [B1 How rebalancing earns a gain](harvesting-rebalancing.md) · [interactive page](./#harvesting/rebalancing)
  - [B2 Why outdated prices cost the pool money](harvesting-lvr.md) · [interactive page](./#harvesting/lvr)
  - [B3 How fees repay the trading loss](harvesting-fees.md) · [interactive page](./#harvesting/fees)
  - [B4 What prices and starting holdings explain](harvesting-formula.md) · [interactive page](./#harvesting/formula)
  - [B5 Two common misunderstandings about harvesting](harvesting-parameters.md) · [interactive page](./#harvesting/parameters)
- [C. What the simulator can explain](simulation.md) · [interactive page](./#simulation)
  - [C1 Replaying recorded activity](simulation-live.md) · [interactive page](./#simulation/live)
  - [C2 What recorded activity adds to the formula](simulation-skill.md) · [interactive page](./#simulation/skill)
  - [C3 Small input errors can change whether the pool stalls](simulation-noise.md) · [interactive page](./#simulation/noise)
  - [C4 How customers respond remains an open problem](simulation-limits.md) · [interactive page](./#simulation/limits)
- [D. Testing different sequences of market moves](resampling.md) · [interactive page](./#resampling)
  - [D1 Why one price history is not enough](resampling-why.md) · [interactive page](./#resampling/why)
- [E. Tests of the YB proposal](proposal.md) · [interactive page](./#proposal)
  - [E1 The proposal’s original test and its separate changes](proposal-test.md) · [interactive page](./#proposal/test)
  - [E2 The early gain comes from changing financing](proposal-channels.md) · [interactive page](./#proposal/channels)
  - [E3 Customers receive worse prices in the quote test](proposal-demand.md) · [interactive page](./#proposal/demand)
  - [E4 Selected settings on unused and older data](proposal-selection.md) · [interactive page](./#proposal/selection)
- [F. The re-peg gate](repeg.md) · [interactive page](./#repeg)
  - [F1 The profit floor guards the books, then locks the pool](repeg-protection.md) · [interactive page](./#repeg/protection)
  - [F2 Removing the floor in September](repeg-removal.md) · [interactive page](./#repeg/removal)
- [G. When price_scale detaches](detachment.md) · [interactive page](./#detachment)
  - [G1 Detachment is depth missing at the market](detachment-measure.md) · [interactive page](./#detachment/measure)
  - [G2 Donations, the gate and when volatility arrives](detachment-donations.md) · [interactive page](./#detachment/donations)
  - [G3 The directional bet decides the live stall outcome](detachment-costs.md) · [interactive page](./#detachment/costs)
  - [G4 Repairing a detached pool needs capital](detachment-repairs.md) · [interactive page](./#detachment/repairs)
  - [G5 Test orders get worse quotes during detachment](detachment-trader-cost.md) · [interactive page](./#detachment/trader-cost)
  - [G6 Staying attached does not reliably raise wealth](detachment-funded.md) · [interactive page](./#detachment/funded)
- [H. Choosing parameters means choosing bets](bets.md) · [interactive page](./#bets)
  - [H1 A re-peg setting is a bet on whether a move lasts](bets-mechanism.md) · [interactive page](./#bets/mechanism)
  - [H2 What each setting bets on](bets-settings.md) · [interactive page](./#bets/settings)
  - [H3 Returns on the team’s tested grid](bets-direction.md) · [interactive page](./#bets/direction)
  - [H4 The gate on histories with no built-in direction](bets-drift-free.md) · [interactive page](./#bets/drift-free)
  - [H5 Switching the gate during a stall](bets-switch.md) · [interactive page](./#bets/switch)
  - [H6 When the resettable floor runs out of budget](bets-rearm.md) · [interactive page](./#bets/rearm)
  - [H7 Who carries each bet](bets-who.md) · [interactive page](./#bets/who)
  - [H8 What a convincing selection shows](bets-selection.md) · [interactive page](./#bets/selection)
  - [H9 Profiles of the tested settings](bets-profiles.md) · [interactive page](./#bets/profiles)
- [Concerns about the evidence](concerns.md) · [interactive page](./#concerns)
- [Common misunderstandings](misunderstandings.md) · [interactive page](./#misunderstandings)
- [Glossary](glossary.md) · [interactive page](./#glossary)

[All page text and chart tables](PAGE-TEXT.md) · [Previous site archive](/yb-policy/)

The subject is the YB team’s proposed policy and simulator.