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1980•RePEc: Research Papers in EconomicsOpen access

THE CONSUMER'S USE OF FUTURES

Peter Berck, Cecchetti, Stephen G., Berck, Peter, Cecchetti, Stephen G.

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Abstract

This paper shows that futures should be included in an efficient portfolio and that the degree of their inclusion depends critically on the evaluation of income in real terms. As planned consumption is balanced toward items traded in the futures market, holdings of futures are shown to increase.

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This paper shows that futures should be included in an efficient portfolio and that the degree of their inclusion depends critically on the evaluation of income in real terms. As planned consumption is balanced toward items traded in the futures market, holdings of futures are shown to increase.

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Available abstract

This paper shows that futures should be included in an efficient portfolio and that the degree of their inclusion depends critically on the evaluation of income in real terms. As planned consumption is balanced toward items traded in the futures market, holdings of futures are shown to increase.

Key concepts: Futures contract, Portfolio, Futures market, Consumption (sociology), Economics, Forward market, Financial economics, Hedge

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