Abstract
In the preceding two chapters we studied a model of sequential futures markets with only three periods, viz. a prior market, a final market, and one intermediate market inbetween. We now generalize this model by allowing an arbitrary number T ≧ 0 of intermediate futures markets between the prior and the final date.1
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In reality, for example on the Chicago Board of Trade, futures contracts are traded every day, and the price can change from hour to hour, so that T is certainly very large.
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© 1982 Springer-Verlag Berlin Heidelberg
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Nermuth, M. (1982). Generalizations. In: Information Structures in Economics. Lecture Notes in Economics and Mathematical Systems, vol 196. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-46447-8_11
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DOI: https://doi.org/10.1007/978-3-642-46447-8_11
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-11186-3
Online ISBN: 978-3-642-46447-8
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