Traders' conducts in the war of attrition of the stock market

The continual depression of the stock market usually has great negative influences on the national economy, and the facts resulting in the slump of the stock's volume usually comes from every direction. This paper investigates the microcosmic facts which lead the depression of our country's stock market in recent years and its conduction mechanism in a microstructure perspective, especially from the view of the equilibrium of the traders in the depressive market. In the meantime, we discuss the micro-institutional plan and concerted approach for urging our country's stock market to get out of the continual depression through a qualitative analysis on a game-model.