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Research On Futures Markets: Issues, Approaches, And Empirical Findings

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  • Blank, Steven C.

Abstract

This paper presents a brief assessment of the recent futures and options literature with reference only to agricultural markets. The discussion centers on the markets' social value and economic value to firms. Issues currently unresolved are highlighted, in some cases by presenting hypotheses contrary to standard positions. Overall, the current literature describes these markets as having positive social value and serving useful functions at the firm level, but existing theory and empirical methods are criticized for many weaknesses.

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  • Blank, Steven C., 1989. "Research On Futures Markets: Issues, Approaches, And Empirical Findings," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(1), pages 1-14, July.
    • Handle: RePEc:ags:wjagec:32449
    DOI: 10.22004/ag.econ.32449
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    Cited by:

    1. Elfakhani, Said & Wionzek, Ritchie J., 1997. "Intermarket spread opportunities between Canadian and American agricultural futures," International Review of Economics & Finance, Elsevier, vol. 6(4), pages 361-377.
    2. Scott, Ayesha & Schoen, Tilman & Fernandez-Perez, Adrian, 2020. "The Predictive Power of NZX Dairy Futures," 2020 Conference (64th), February 12-14, 2020, Perth, Western Australia 305230, Australian Agricultural and Resource Economics Society.
    3. Tomek, William G., 1996. "Commodity Futures Prices As Forecasts," Working Papers 127901, Cornell University, Department of Applied Economics and Management.
    4. Novak, Frank & Bauer, Leonard & Dailly, Sally & Melvin, Richard, 1992. "An Analysis of Risk and Return in Hog Finishing," Project Report Series 232358, University of Alberta, Department of Resource Economics and Environmental Sociology.
    5. repec:ags:vtaesp:232463 is not listed on IDEAS
    6. Yun, Won-Cheol & Purcell, Wayne D., 1995. "Impact of Deductibility of Futures Losses on Cattle Feeders' Involvement and the Effectiveness of the Price Discovery Process," Staff Papers 232514, Virginia Polytechnic Institute and State University, Department of Agricultural and Applied Economics.
    7. Carter, Colin A., 1999. "Commodity futures markets: a survey," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 43(2), pages 1-39, June.
    8. Novak, Frank S. & Viney, Bruce, 1995. "Alternative Pricing and Delivery Strategies for Alberta Cattle Feeders," Project Report Series 24044, University of Alberta, Department of Resource Economics and Environmental Sociology.

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