The Efficiency of the U.S. Cotton Futures Market (1986-2006): A Test for Normal Backwardation and Identification of Economic Indicators
Victoria Salin (),
Marissa Chavez and
No 34921, 2007 Annual Meeting, February 4-7, 2007, Mobile, Alabama from Southern Agricultural Economics Association
The cotton futures market was analyzed to determine pricing patterns and explain pricing with an equilibrium asset pricing framework. Results are consistent with the efficient market hypothesis over the long-run. Pricing trends existed within contracts and by seasons. Cotton futures do not show significant risk premiums over other financial assets.
Keywords: Marketing (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:saeasm:34921
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