Hamori, Shigeyuki; Hamori, Naoko; Anderson, David A. - In: Journal of Futures Markets 21 (2001) 9, pp. 861-874
The Dojima Rice Market in Osaka was the first futures market in the world, and an influential role model for modern futures markets. This study examines the efficiency of the original futures market by applying timeāseries analysis to data on futures prices from Japan's Tokugawa era...