Trading on the Sydney Wool Futures Market: A Test of a Theory of Speculation at the Level of the Individual

B. A. Goss

Chapter 10 in The Economics of Futures Trading, 1976, pp 168-187 from Palgrave Macmillan

Abstract: Abstract The aim of this paper is twofold. Models of futures trading developed recently do not, in my view, deal adequately with certain aspects of individual equilibrium. For example, J. L. Stein’s theory does not determine explicitly the quantity of stocks held by the individual; the Peston and Yamey model does not deal with individual equilibrium at all; and that of Leland Johnson does not analyse the market position of an individual who is risk-loving.1 The purpose of Section 1 is to present a theory which determines the quantity of futures contracts held by an individual trader, whether he is risk-averting or risk-loving, using a method alternative to the indifference curve analysis.2

Keywords: Risk Premium; Demand Curve; Future Price; Market Position; Supply Curve (search for similar items in EconPapers)
Date: 1976
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-02693-7_11

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349026937

DOI: 10.1007/978-1-349-02693-7_11

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().