In this paper we examine the relationship over time of the No. 11 (World) and the No. 14 (US) sugar futures contracts, traded on the New York Coffee, Sugar and Cocoa Exchange. Using daily price data for a 14 year period, we examine statistical linkages between domestic and world futures...

Different institutions can produce more (or less) preferred outcomes, in terms of citizens’ preferences. Consequently, citizen preferences over institutions may “inherit”—to use William Riker’s term—the features of preferences over outcomes. But the level of information and...