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Reservation wage and optimal contract for experts

✍ Scribed by Jooyong Jun; Kyoung-Soo Yoon


Book ID
119232194
Publisher
Elsevier Science
Year
2012
Tongue
English
Weight
218 KB
Volume
117
Category
Article
ISSN
0165-1765

No coin nor oath required. For personal study only.


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Optimal contract design: For whom?
✍ Nicolas P. B. Bollen; Tom Smith; Robert E. Whaley πŸ“‚ Article πŸ“… 2003 πŸ› John Wiley and Sons 🌐 English βš– 325 KB

## Abstract In designing a derivative contract, an exchange carefully considers how its attributes affect the expected profits of its members. On November 3, 1997, the Chicago Mercantile Exchange doubled its tick size of its S&P 500 futures contract and halved the denomination, providing a rare opp