𝔖 Bobbio Scriptorium
✦   LIBER   ✦

Markets and regulation under uncertainty

✍ Scribed by Gary W. Yohe


Book ID
116099209
Publisher
Elsevier Science
Year
1982
Tongue
English
Weight
301 KB
Volume
9
Category
Article
ISSN
0165-1765

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Futures market equilibrium under Knighti
✍ Donald Lien; Yaqin Wang πŸ“‚ Article πŸ“… 2003 πŸ› John Wiley and Sons 🌐 English βš– 122 KB

## Abstract This paper examines the effects of Knightian uncertainty on a commodity futures market within the Newbery‐Stiglitz framework. It is shown that Knightian traders act more conservatively. In a partial trade equilibrium, risk aversion and Knightian uncertainty have qualitatively similar ef