This paper concludes that futures markets offer better insurance to producers than price stabilization schemes except when the producer has a very low correlation between his output and the world price. In this case, however, a price guarantee scheme operated by a domestic Marketing Board offers such a small improvement in income insurance that such benefits will almost certainly be offset by costs of operating such a scheme. Although government intervention...
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INFORMATION
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1982/02/01
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Document de travail départemental
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DRD34
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1
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1
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2013/03/04
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Disclosed
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Futures trading, risk reduction and price stabilization
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Economic models
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