Purpose – The purpose of this paper is twofold. The first is to estimate the correlation between market activity and volatility on an exchange that does not use continuous auctions to find prices. The second is to estimate the sensitivity of that relationship to differences in opinions across...

The market for insuring insect damage is far from complete. This study introduces a new type of derivative instrument‐insect derivatives‐that provide growers a market‐based means of transferring insect risk to speculators or others who may profit from higher insect populations. A...

The market for insuring insect damage is far from complete. This study introduces a new type of derivative instrument-insect derivatives-that provide growers a market-based means of transferring insect risk to speculators or others who may profit from higher insect populations. A risk-neutral...