{"product_id":"9789814566933","title":"The World Scientific Handbook Of Futures Markets","description":"\u003cp\u003e\u003ci\u003eThe World Scientific Handbook of Futures Markets\u003c\/i\u003e serves as a definitive source for comprehensive and accessible information in futures markets. The emphasis is on the unique characteristics of futures markets that make them worthy of a special volume. In our judgment, futures markets are currently undergoing remarkable changes as trading is shifting from open outcry to electronic and as the traditional functions of hedging and speculation are extended to include futures as an alternative investment vehicle in traditional portfolios. The unique feature of this volume is the selection of five classic papers that lay the foundations of the futures markets and the invitation to the leading academics who do work in the area to write critical surveys in a dozen important topics.\u003c\/p\u003e\u003cbr\u003e\u003cb\u003eContents:\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003e\n\u003cb\u003e\u003ci\u003eIntroduction:\u003c\/i\u003e\u003c\/b\u003e\u003cul\u003e\u003cli\u003eFutures Markets: An Overview \u003ci\u003e(Anastasios G Malliaris and William T Ziemba)\u003c\/i\u003e\n\u003c\/li\u003e\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003e\u003ci\u003eClassical Contributions:\u003c\/i\u003e\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eProof that Properly Anticipated Prices Fluctuate Randomly \u003ci\u003e(Paul A Samuelson)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eThe Variation of Certain Speculative Prices \u003ci\u003e(Benoit Mandelbrot)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eCommodity Futures Prices: Some Evidence on Forecast Power, Premiums, and the Theory of Storage \u003ci\u003e(Eugene F Fama and Kenneth R French)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eVolume and Volatility in Foreign Currency Futures Markets \u003ci\u003e(Ramaprasad Bhar and A G Malliaris)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eThe Strategic and Tactical Value of Commodity Futures \u003ci\u003e(Claude B Erb and Campbell R Harvey)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003e\u003ci\u003eInstitutions: New Invited Papers:\u003c\/i\u003e\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eCentral Counterparty Clearing and Systemic Risk Regulation \u003ci\u003e(Robert S Steigerwald)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eThe Fast Track to the Futures: Technological Innovation, Market Microstructure, Market Participants, and the Regulation of High-Frequency Trading \u003ci\u003e(Barbara J Mack)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003e\u003ci\u003eEstablished Markets: Invited Contributions:\u003c\/i\u003e\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eAgricultural Futures Markets \u003ci\u003e(Paul E Peterson and Jin Wook Choi)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eWorld Metal Markets \u003ci\u003e(Raj Aggarwal, Brian Lucey, and Fergal O'Connor)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eInterest Rate Futures: Elements of a Successful Financial Innovation \u003ci\u003e(Bluford H Putnam)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eCurrency Futures \u003ci\u003e(Tim Weithers)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eEnergy Futures Markets \u003ci\u003e(Betty Simkins and Yuecheng Jia)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003e\u003ci\u003eNew Markets: Invited Contributions:\u003c\/i\u003e\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eVolatility as an Asset Class \u003ci\u003e(Tom Nohel and Steven K Todd)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eHousing Futures Markets \u003ci\u003e(Jin Wook Choi and Jin Man Lee)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eFreight Futures Markets \u003ci\u003e(Fotis Giannakoulis, Nikos Gavriilidis and Nikolas Arachovas)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eModeling the Dynamics of Temperature with a View to Weather Derivatives \u003ci\u003e(Eirini Konstantinidi, Gkaren Papazian and George Skiadopoulos)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eElectricity Futures \u003ci\u003e(Paolo Falbo, Daniele Felletti and Silvana Stefani)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eClimate Futures Markets \u003ci\u003e(Rita l D'Ecclesia)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003e The European Sovereign Debt Crisis and the Role of Credit Swaps \u003ci\u003e(Eleftherios I Thalassinos, Theodoros Stamatopoulos and Pantelis E Thalassinos)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003e\u003ci\u003eAdvanced Topics: Invited Papers:\u003c\/i\u003e\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eReturns from Investing in S\u0026amp;P500 Futures Options, 1985–2010 \u003ci\u003e(Alexandre Ziegler and William T Ziemba)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eHow to Lose Money in Derivatives: Examples from Hedge Funds and Bank Trading Departments \u003ci\u003e(Sebastien Lleo and William T Ziemba)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eNominal GDP Futures Contract Targeting \u003ci\u003e(W William Woolsey and Scott Sumner)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eThe Ethics of Financial Speculation in Futures Markets \u003ci\u003e(Ingo Pies, Matthias Georg Will, Thomas Glauben, and Sören Prehn)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cb\u003eReadership:\u003c\/b\u003e Graduate students and researchers who are interested in the topic of futures markets.\u003cbr\u003e\u003cp\u003e\u003ci\u003e“Financial futures have spawned enormous innovation in the investment industry over the past four decades. Hedging and speculation in financial markets have been revolutionized. More recently, commodity futures have served as a  gateway for institutional investors to a new investible asset class, and not without some interesting controversy over the implications for the underlying commodity markets. The\u003c\/i\u003e World Scientific Handbook of Futures Markets \u003ci\u003ehelps us make sense of these developments with its carefully selected compendium of classic articles by the pioneering giants along with a tasteful assortment of new work that helps bring us to up date with the current state of the field. With this volume, Malliaris and Ziemba have significantly lowered the cost of entry of readers from industry and academia.”\u003c\/i\u003e\u003c\/p\u003e\u003ci\u003eDarrell Duffie\u003cbr\u003eDean Witter Distinguished Professor of Finance\u003cbr\u003eGraduate School of Business, Stanford University\u003c\/i\u003e\u003cbr\u003e\u003cp\u003e\u003ci\u003e“Twenty years after their inception, Nobel Laureate in Economics, Merton Miller, named financial futures as ‘the most significant innovation of the past two decades’. He peered into the future. These instruments have become an integral part of the financial system in the world's leading economies and are used to hedge and manage risk by international and domestic banks, public and private pension funds, mutual funds, hedge funds, asset and liabilities managers, swap dealers, insurance and mortgage companies, and energy companies. This process has improved national productivity, growth, and standards of living …\u003c\/i\u003e The World Scientific Handbook of Futures Markets \u003ci\u003eis a welcome addition to the body of expert work providing comprehensive information on futures markets to the world.  The papers selected read like the ‘who's who’ of futures markets offering invaluable theoretical and practical information.”\u003c\/i\u003e\u003c\/p\u003e\u003ci\u003eLeo Melamed\u003cbr\u003eChairman Emeritus, CME Group\u003c\/i\u003e\u003cbr\u003e\u003cp\u003e“The World Scientific Handbook of Futures Markets \u003ci\u003eis a unique volume thoughtfully edited by Professors Tassos Malliaris and Bill Ziemba, two experts in the field. Classic papers authored by Samuelson, Fama, French and Mandelbrot, among others, demonstrate how the area of futures markets has attracted seminal economists and finance thinkers. The volume also includes 18 original essays covering traditional futures markets, such as agricultural, energy, metals, the more recent financial futures markets such as interest rates,  equities and currencies, and finally, new markets such as weather, housing, climate, electricity and freight futures. With its innovative and comprehensive coverage, this forward-looking Handbook instructs and guides both researchers and practitioners in the field of futures markets.”\u003c\/i\u003e\u003c\/p\u003e\u003ci\u003eGeorge Constantinides\u003cbr\u003eLeo Melamed Professor of Finance\u003cbr\u003eUniversity of Chicago Booth School of Business\u003c\/i\u003e\u003cbr\u003e","brand":"World Scientific Publishing Company, Incorporated","offers":[{"title":"Default Title","offer_id":47141187453168,"sku":"9789814566933","price":74.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9789814566933_p0.jpg?v=1763691040","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9789814566933","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}