000177525 001__ 177525
000177525 005__ 20250206162655.0
000177525 0247_ $$2doi$$a10.22004/ag.econ.177525
000177525 037__ $$a968-2016-75626
000177525 037__ $$a968-2016-76640
000177525 041__ $$aeng
000177525 245__ $$aWhy do farmers have so little interest in futures markets?
000177525 260__ $$c2002-05
000177525 269__ $$a2002-05
000177525 300__ $$a6
000177525 336__ $$aJournal Article
000177525 520__ $$aA farm financial model with leverage and investment in two farm enterprises is specified. The model is extended to
incorporate futures hedging and the Separation Theorem is used to show that optimal hedging is zero. The assumption of a
risk-free asset is relaxed and, while this leads to a violation of the Separation Theorem, the result that optimal hedging is zero
is maintained providing that futures markets are efficient. It is concluded that if capital markets are efficient then farmers will
have little interest in futures markets except to speculate.© 2002 Elsevier Science B.V. All rights reserved.
000177525 546__ $$aEnglish
000177525 650__ $$aFarm Management
000177525 650__ $$aProduction Economics
000177525 6531_ $$aFutures markets
000177525 6531_ $$aSeparation Theorem
000177525 6531_ $$aHedging
000177525 700__ $$aSimmons, Phil
000177525 773__ $$q1$$o6$$tAgricultural Economics: The Journal of the International Association of Agricultural Economists$$j27$$k01$$dMay 2002
000177525 8564_ $$9103a2724-1c80-423e-b2f9-a2e48b028bec$$s557841$$uhttps://ageconsearch.umn.edu/record/177525/files/agec2002v027i001a001.pdf
000177525 887__ $$ahttp://purl.umn.edu/177525
000177525 909CO $$ooai:ageconsearch.umn.edu:177525$$pGLOBAL_SET
000177525 912__ $$nSubmitted by Jennifer Nelson (nels7877@umn.edu) on 2014-07-10T18:20:45Z
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  Previous issue date: 2002-05
000177525 913__ $$aLicense granted by Jennifer Nelson (nels7877@umn.edu) on 2014-07-10T18:17:47Z (GMT):

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000177525 980__ $$a968
000177525 982__ $$gAgricultural Economics: The Journal of the International Association of Agricultural Economists>Volume 27, Issue 1, May 2002