This article focuses on the volatility of crude oil futures prices on the New York Mercantile Exchange. It aims at … examining whether this market creates excess volatility, which would not be observed in the absence of such a market. In order … to reach this objective, price fluctuations are separated into two components: an information component that reflects a …

, trading volume as well as trade imbalances in call and put options, and volatility are important in understanding why some …

volatility of crude oil futures prices illustrates the presentation. The last section underlines the interest of the information …This article is centred on the volatility of commodity prices. It presents the instruments offering a protection … against volatility and shows how they can be employed. The first section exposes these derivative instruments. It …

, trading volume as well as trade imbalances in call and put options, and volatility are important in understanding why some …

, trading volume as well as trade imbalances in call and put options, and volatility are important in understanding why some …

, trading volume as well as trade imbalances in call and put options, and volatility are important in understanding why some …

volume as well as trade imbalances in call andput options, and volatility are important in understanding why some arbitrage …

real options in the presence of shadow costs of incomplete information. Information costs can be viewed as sunk costs in … the spirit of Merton’s (1987) model of capital market equilibrium with incomplete information. We incorporate these sunk … information costs in real projects is based on the observation that R&D needs to be done before investment decisions. These costs …