Derivatives

Name: Derivatives
Brand: LAP Lambert Academic Publishing
SKU: 9783659934858
Price: 31.13 EUR
Availability: InStock

Speculation, Hedging, and Economic Efficiency in US Common Law

Autor: Maximilian H. Dyck

Jazyk:

Väzba: Brožovaná

Vydavateľ: LAP Lambert Academic Publishing

Dostupnosť: Skladom u dodávateľa

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31.13 €

Derivatives are an undeniably important part of today's financial markets. There is significant deba...

Informácie o knihe

Autor

Maximilian H. Dyck

Jazyk

Angličtina

Väzba

Kniha - Brožovaná

Vydalo

2016

Stránok

EAN

9783659934858

Enbook ID

14211178

Vydavateľ

LAP Lambert Academic Publishing

Hmotnosť

142

Rozmery

150 x 220 x 5

Kompletný popis

Derivatives are an undeniably important part of today's financial markets. There is significant debate about their effects on the economy with overwhelming uncertainty regarding appropriate legal responses. This book argues that centuries-old restrictions on speculative derivatives developed in Irwin v Williar are not justifiable. Moral interpretations from the time show little understanding of these financial instruments. An analysis based on neoclassical economics reveals US common law's hostile stance against speculative derivatives to make the economy highly inefficient. This study will point out that speculative derivatives ensure the stability of competitive equilibrium through market completion, price discovery, and price stabilisation. US common law's insistence upon delivery of the underlying product to settle the derivatives contract should be abolished. It will be proposed that incentives for efficient replicating portfolio management ŕ la Black-Scholes should be created.

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Derivatives

Speculation, Hedging, and Economic Efficiency in US Common Law

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Kompletný popis

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