Populists versus theorists: Futures markets and the volatility of prices

@inproceedings{Jacks2007PopulistsVT,
  title={Populists versus theorists: Futures markets and the volatility of prices},
  author={David S. Jacks},
  year={2007}
}
Abstract In this paper, the divergence between popular and professional opinion on speculation in general and futures markets in particular is explored. Along the way, a synopsis of prevailing popular attitudes on futures markets is presented, and an outline of a formal model of futures markets and its implications for commodity price volatility are sketched. The heart of the analysis is drawn from the historical record on the establishment and prohibition of futures markets. Briefly, the… CONTINUE READING
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