Williams, Jeffrey C. - In: Handbook of agricultural economics : volume 1, part B, …, (pp. 745-816). 2001
low cost. Theorists have modeled futures contracts as tools for risk management, despite an extensive empirical literature … firms as using futures contracts to arbitrage, to minimize transaction costs, to substitute temporarily for merchandising … contracts. Because commercial firms tie their processing and storage decisions to the constellation of futures prices, futures …
