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The Mystery of Manipulation

In: Market Manipulation and The Price of Eggs

Author

Listed:
  • David Ress

    (University of New England)

Abstract

Even as the case of the egg futures trading worked it way through the regulatory process, Henner and a partner launched another campaign to move futures prices, in this case, in the newer pork bellies futures market. This took the more traditional form of a market corner, In this case, regulators did not act, but many years later, the new Commodity Futures Trading Commission would suggest this was a mistake—even though, in another precedent-setting matter, the Indiana Farm Bureau manipulation case, they would formally reject the egg futures case argument that action proved intent and therefore manipulation to create a false price. The dissents in this case, however, highlighted a critical point: that financial market efficiency is not the same thing as the efficient allocation of resources and income.

Suggested Citation

  • David Ress, 2025. "The Mystery of Manipulation," Springer Books, in: Market Manipulation and The Price of Eggs, chapter 0, pages 103-118, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-87171-9_7
    DOI: 10.1007/978-3-031-87171-9_7
    as

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