Speculating on the Future of Mathematics
β Scribed by ThomasL. Saaty
- Publisher
- Elsevier Science
- Year
- 1988
- Tongue
- English
- Weight
- 310 KB
- Volume
- 1
- Category
- Article
- ISSN
- 0893-9659
No coin nor oath required. For personal study only.
π SIMILAR VOLUMES
he behavior of the basis from the time a hedge is placed until the time it is T lifted is of considerable importance to the hedger. The very essence of hedg--ing involves an exchange of risk-of price level risk for basis risk. In the placing of a hedge, a hedger is confronted with a choice of severa
## Abstract The representative agent hypothesis is disputable on theoretical grounds because it is inconsistent with observed trading behavior and the existence of speculative markets. In such markets, the representative agent hypothesis implies agents hold homogeneous expectations. If this were tr
This paper studies the lead-lag relationship between speculation and hedging activity in six currency futures markets. The relations between (i) total speculation (long plus short) and total hedging (long plus short), (ii) long speculation and short hedging, and (iii) short speculation and long hedg