This paper examines biofuels from an economic perspective and evaluates the merits of promoting biofuel production in the context of the policies' multiple objectives, life-cycle implications, pecuniary externalities, and other unintended consequences. The policy goals most often cited are to...

In a brief literature review, we discuss how our insight into the grounds of existence of futures markets has changed from the initial insurance perspective, to the arbitrage perspective, to the portfolio perspective, and to the current institutional perspective. We discuss futures market...