Substitution between revenue futures and price futures contracts: A note
In recent years, commercial interest has been expressed in agricultural revenue insurance instruments. Participating parties may look to futures markets to offset assumed positions. In this note, conditions are identified such that revenue futures contracts are perfect substitutes for price futures contracts. If these conditions approximate reality, then it would seem questionable whether sufficient interest would exist to sustain markets in both futures contracts. © 2002 Wiley Periodicals, Inc. Jrl Fut Mark 22:387–391, 2002
Year of publication: |
2002
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Authors: | Hennessy, David A. |
Published in: |
Journal of Futures Markets. - John Wiley & Sons, Ltd.. - Vol. 22.2002, 4, p. 387-391
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Publisher: |
John Wiley & Sons, Ltd. |
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