1992 Fiscal Year Final Research Report Summary
A THEORETICAL AND EMPIRICAL ANALYSIS OF FUTURES AND OPTIONS MARKETS
| Project/Area Number |
03630001
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| Research Category |
Grant-in-Aid for General Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Research Field |
一般理論
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| Research Institution | UNIVERSITY OF TSUKUBA |
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Principal Investigator |
SAKAI Yasuhiro UNIV.OF TSUKUBA,SOCIAL SCI.,PROF., 社会科学系, 教授 (40093760)
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| Co-Investigator(Kenkyū-buntansha) |
KAWANO Masamichi TEIKYO UIV. OF TECH.,ASSOC.PROF. Dep.of Information Science, 情報科学部, 助教授 (30161342)
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| Project Period (FY) |
1991 – 1992
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| Keywords | FUTURES MARKET / OPTION MARKET / RISK AVERSION / ECONOMICS OF UNCERTAINTY / SPECULATION / INFORMATION |
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| Research Abstract |
The purpose of this research project is to explore the working and performance of futures and options markets from the viewpoint of the economics of risk and information. The project is especially concernedwith the welfare effects of speculation and information on economic activities.
It is seen that futures markets not only provide insurance against price fluctuations, but also provide opportunities for speculation. Changes in government action are likely a response to changed conditions in the market that are induced by market volatility. However, it may also a major cause of market volatility. A new, integrated approach to economic behavior under uncertainty is eagerly awaited.
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