This article examines the theoretical and empirical implications of asymmetric information in commodity futures markets. In particular, it formulates and tests a theoretical model that recognizes two distinct categories of traders: hedgers, who participate in both spot and futures markets, and specu
โฆ LIBER โฆ
The value of public information in commodity futures markets
โ Scribed by Philip Garcia; Scott H. Irwin; Raymond M. Leuthold; Li Yang
- Book ID
- 117350213
- Publisher
- Elsevier Science
- Year
- 1997
- Tongue
- English
- Weight
- 878 KB
- Volume
- 32
- Category
- Article
- ISSN
- 0167-2681
No coin nor oath required. For personal study only.
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The ability of futures markets to predict subsequent spot prices has been a controversial topic for a number of years. Empirical evidence to date is mixed; for any given market, some studies find evidence of efficiency, others of inefficiency. In part, these apparently conflicting findings reflect d
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