£43.99

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£44 today · usual range £42–£44 · best ever £42

Cambridge University Press Economic Function Futures Markets: 0

Amazon

Price History & Forecast

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Last 72 days · 72 data points (no recent data)

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£44.00 £41.57 £42.10 £42.63 £43.16 £43.69 £44.22 28 July 2026 14 August 2026 01 September 2026 19 September 2026 07 October 2026
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Price Distribution

Price distribution over 72 days • 2 price levels

Days at Price
Current Price
45 days 27 days · current 0 11 23 34 45 £42 £44 Days at Price

Price Analysis

Most common price: £42 (45 days, 62.5%)

Price range: £42 - £44

Price levels: 2 different prices over 72 days

Description

This book offers an explanation of why commodity processors and dealers use futures markets. It argues that they use futures contracts as part of an implicit method of borrowing and lending commodities, contrary to the accepted view of dealers averse to the fluctuating value of their inventories wanting insurance against price risk. Employing models developed to explain the demand for money, this book demonstrates that risk-neutral dealers have sufficient reason to use futures markets. Moreover, the book exposes major internal inconsistencies in the accepted explanation. Rather than insurance markets, the appropriate analogy is the money market, which is the point the book establishes through discussing actual loan markets in commodities. This insight into the function of futures markets is then used to explain how futures prices for different delivery dates express a term structure of commodity-specific interest rates and why futures markets flourish for some types of commodities and not for others.

Product Specifications

Format
paperback
Domain
Amazon UK
Release Date
21 August 2008
Listed Since
31 March 2008

Barcode

No barcode data available

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