This study tests causal hypotheses emanating from theories of futures markets by utilizing methods appropriate for disproving causal relationships with observational data. The hedging pressure theory of futures markets risk premiums, the generalized version of the normal backwardation theory of Keyn
Testing rationality in futures markets
โ Scribed by Christopher K. Ma; William H. Dare; Darla R. Donaldson
- Publisher
- John Wiley and Sons
- Year
- 1990
- Tongue
- English
- Weight
- 941 KB
- Volume
- 10
- Category
- Article
- ISSN
- 0270-7314
No coin nor oath required. For personal study only.
๐ SIMILAR VOLUMES
hile the rationality of futures prices in financial and exchange markets has W received considerable empirical attention, commodity futures have been comparatively disregarded. Section I of this article contains a brief summary of the literature on tests of rationality on commodity futures. Such att
## Abstract Trading amongst dealers on the floor of the futures exchange is examined. Since there is only one trading venue, the common floor area, trading between dealers is carried on in the presence of trades involving customer orders as well, offering a unique setting for testing the effect of
The Spanish futures markets, the MEFF RENTA FIJA, and the MEFF RENTA VARIABLE, are among the fast-growing futures markets in the world. These markets are known for their cutting-edge technological innovations related to trading, providing information, clearing, and settlement. The growing importance