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A Bayesian Implementation of the Standard Optimal Hedging Model: Parameter Estimation Risk and Subjective Views
Shi, Wei; Irwin, Scott H. - Agricultural and Applied Economics Association - AAEA - 2005
We develop a Bayesian implementation of the standard optimal hedging model to analyze the impact of hedgers' subjective views on their hedging behavior. The results show the subjective views have a substantial impact on hedgers' optimal positions, explaining the large cross-sectional and time...
Persistent link: https://www.econbiz.de/10005803302
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Efficient Portfolios of Market Advisory Services: An Application of Shrinkage Estimators
Cabrini, Silvina M.; Irwin, Scott H.; Good, Darrel L. - Agricultural and Applied Economics Association - AAEA - 2005
program's marketing recommendations and the average price/revenue offered by the market along the marketing window. The … portfolios of advisory programs. Results suggest that farmers can benefit from following the marketing recommendations of …
Persistent link: https://www.econbiz.de/10005039110