A THEORETICAL AND EMPIRICAL ANALYSIS OF FUTURES AND OPTIONS MARKETS

期货和期权市场的理论和实证分析

• 批准号: 03630001
• 负责人: SAKAI Yasuhiro
• 金额: $ 1.02万
• 依托单位: UNIVERSITY OF TSUKUBA
• 依托单位国家: 日本
• 项目类别: Grant-in-Aid for General Scientific Research (C)
• 财政年份: 1991
• 资助国家: 日本
• 起止时间: 1991 至 1992
• 项目状态: 已结题
• 来源: https://kaken.nii.ac.jp/grant/KAKENHI-PROJECT-03630001/
• 关键词: FUTURES MARKET; OPTION MARKET; RISK AVERSION; ECONOMICS OF UNCERTAINTY; SPECULATION; INFORMATION

The purpose of this research project is to explore the working and performance of futures and options markets from the viewpoint of the economics of risk and information. The project is especially concernedwith the welfare effects of speculation and information on economic activities.It is seen that futures markets not only provide insurance against price fluctuations, but also provide opportunities for speculation. Changes in government action are likely a response to changed conditions in the market that are induced by market volatility. However, it may also a major cause of market volatility. A new, integrated approach to economic behavior under uncertainty is eagerly awaited.

本研究课题的目的是从风险经济学和信息经济学的角度探讨期货和期权市场的运作和绩效。该项目特别关注投机和信息对经济活动的福利影响，认为期货市场不仅为价格波动提供了保障，而且也为投机提供了机会。政府行为的变化可能是对市场波动引起的市场条件变化的反应。然而，这也可能是市场波动的主要原因。人们迫切期待着一种新的、综合的方法来研究不确定性下的经济行为。

项目成果

酒井 泰弘,吉住 昭彦: "Risk Aversion and Duopoly" Pure Mathematics and Application. 2. 129-149 (1992)

Yasuhiro Sakai，Akihiko Yoshizumi：“风险规避与双头垄断”纯数学及其应用。2. 129-149 (1992)。

酒井 泰弘: "情報化の進展と消費者の利益" 生活経済学会会報. 7. 55-71 (1991)

Yasuhiro Sakai：“信息化的进展和消费者利益”生活方式经济学学会通报，7. 55-71 (1991)。

YASUHIRO SAKAI AND AKIHIKO YOSHIZUMI: "RISK AVERSION AND DUOPOLY" PURE MATHEMATICS AND APPLICATIONS. 2. 129-145 (1992)

Yasuhiro Sakai 和 Akihiko YOSHIZUMI：“风险规避和双头垄断”纯数学和应用。

H・V,ヴァリアン,酒井 泰弘・河野 正道・他訳: "入門ミクロ経済学" 勁草書房, 536 (1992)

H.V.、Varian、Yasuhiro Sakai、Masamichi Kono 等译：《微观经济学导论》Keiso Shobo，536 (1992)

河野 正道: "ON THE OPTIMAL PROTECTION OF A GROWING MARKET from ENTRY of A BIG FIRM" Discussion PAPER,Teikyo Univ.of Technology. 91ー10. 1-21 (1991)

Masamichi Kono：“关于大公司进入不断增长的市场的最佳保护”讨论论文，帝京科技大学 91-10 (1991)。