Research On Futures Markets: Issues, Approaches, And Empirical Findings
This paper presents a brief assessment of the recent futures and options literature with reference only to agricultural markets. The discussion centers on the marketsÂ’ 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.
Volume (Year): 14 (1989)
Issue (Month): 01 (July)
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- Rausser, Gordon C & Carter, Colin, 1983. "Futures Market Efficiency in the Soybean Complex," The Review of Economics and Statistics, MIT Press, vol. 65(3), pages 469-478, August.
- Blank, Steven C., 1984. "Cross Hedging Australian Cattle," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 28(02-03).
- Peterson, Paul E. & Leuthold, Raymond M., 1982. "Using Mechanical Trading Systems To Evaluate The Weak Form Efficiency Of Futures Markets," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 14(01), July.
- Øystein Gjerde, 1987. "Measuring hedging effectiveness in a traditional one‐periodic portfolio framework," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 7(6), pages 663-674, December.
- Edwin D. Maberly, 1985. "Testing futures market efficiency—A restatement," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 5(3), pages 425-432, 09.
- Peterson, Paul E. & Leuthold, Raymond M., 1982. "Using Mechanical Trading Systems to Evaluate the Weak Form Efficiency of Futures Markets," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 14(01), pages 147-151, July.
- Louis P. Lukac & B. Wade Brorsen & Scott H. Irwin, 1988. "Similarity of computer guided technical trading systems," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 8(1), pages 1-13, 02.
- Garcia, Philip & Hudson, Michael A. & Waller, Mark L., 1988. "The Pricing Efficiency of Agricultural Futures Markets: An Analysis of Previous Research Results," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 20(01), pages 119-130, July.
- Scott H. Irwin & B. Wade Brorsen, 1987. "A note on the factors affecting technical trading system returns," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 7(5), pages 591-595, October.
- Garcia, Philip & Hudson, Michael A. & Waller, Mark L., 1988. "The Pricing Efficiency Of Agricultural Futures Markets: An Analysis Of Previous Research Results," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 20(01), July.
- Chavas, Jean-Paul & Pope, Rulon D., 1982. "Hedging And Production Decisions Under A Linear Mean-Variance Preference Function," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(01), July.
- Wilson, Paul N. & Eidman, Vernon R., 1983. "An Empirical Test Of The Interval Approach For Estimating Risk Preferences," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 8(02), December.
- Giorgio Canarella & Stephen K. Pollard, 1985. "Efficiency of commodity futures: A vector autoregression analysis," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 5(1), pages 57-76, 03.
- Marcus, Alan J, 1984. "Efficient Asset Portfolios and the Theory of Normal Backwardation: A Comment," Journal of Political Economy, University of Chicago Press, vol. 92(1), pages 162-164, February.
- Bill R. Miller & Brian J. Smith & F. W. Williams, 1986. "Potential world trade in a futures contract for shelled edible peanuts," Agribusiness, John Wiley & Sons, Ltd., vol. 2(1), pages 21-32.
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