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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- 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 162-64, February.
- 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.
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