内容

目次

Part 1 Overview: futures markets - why are they different?; futuresmarkets - how do prices behave; financial structures - a global innovation.Part 2 Methods: Martingle methods in financial decision making; Ito'scalculus in financial decision making; random walk versus chaotic dynamics infinancial economics; portfolio theory. Part 3 Agricultural futures: linkagesbetween agricultural commodity futures contracts; searching for fractalstructure in agricultural futures markets; volume and price relationships -hypotheses and testing for agricultural futures; financial modelling - fromstochastics to chaotics and back to stochastics. Part 4 Financial futures:tests of random walk of Hedge ratios and measures of hedging effectivenessfor stock indexes and foreign currencies; the impact of the lengths ofestimation periods and hedging horizons on the effectiveness of a hedge -evidence from foreign currency ratios; equity and oil markets under externalshocks; volume and volatility in foreign currency futures markets. Part 5Conclusions: directions for future research.