Quarterly Journal of Economics Vol. 89 No. 4 1975
Speculation and Equilibrium: Information, Risk, and Markets
Abstract
I. Price risk versus quantity risk, 520. — II. Noninformative equilibrium: simple consumptive gamble, 525. — III. Informative equilibrium: prior-trading optimum and compound consumptive gamble, 529. — IV. Conclusion: determinants of speculative-hedging behavior, 538. — V. Limitations and generalizations, 540.
- DOI
- 10.2307/1884690
- Volume
- 89
- Issue
- 4
- Pages
- 519
- Sources
- crossref openalex