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dc.contributor.advisorJohn E. Parsons.en_US
dc.contributor.authorHelfrich, Devin Ben_US
dc.contributor.otherMassachusetts Institute of Technology. Technology and Policy Program.en_US
dc.date.accessioned2013-04-12T19:28:43Z
dc.date.available2013-04-12T19:28:43Z
dc.date.copyright2012en_US
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/1721.1/78485
dc.descriptionThesis (S.M. in Technology and Policy)--Massachusetts Institute of Technology, Engineering Systems Division, 2012.en_US
dc.descriptionCataloged from PDF version of thesis. Page 91 blank.en_US
dc.descriptionIncludes bibliographical references (p. 87-90).en_US
dc.description.abstractSpeculation is not monolithic; it comes in many forms. A certain level of speculation is required for commodity futures markets to function. On the other hand, certain types of trading activities by speculators may damage a market's price discovery function and in turn its hedging function. However, there is great disagreement as to which types of speculation can distort commodity futures prices and the mechanisms for how a price distortion may occur. This thesis advances three distinct categories of speculative activities alleged to distort commodity prices and reviews evidence for each. Those three categories are: corner and squeeze manipulations, nonfundamental futures demand, and large speculative demand. Case studies are presented for each of the three categories. In addition, the effectiveness of speculative position limits in decreasing the occurrence of each category is analyzed. A question that arises, but is left unanswered, is whether the marginal benefits outweigh the possible costs of speculation once speculation rises above certain levels required for price discovery and hedging.en_US
dc.description.statementofresponsibilityby Devin B. Helfrich.en_US
dc.format.extent91 p.en_US
dc.language.isoengen_US
dc.publisherMassachusetts Institute of Technologyen_US
dc.rightsM.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.en_US
dc.rights.urihttp://dspace.mit.edu/handle/1721.1/7582en_US
dc.subjectEngineering Systems Division.en_US
dc.subjectTechnology and Policy Program.en_US
dc.titlePrice distortions in the commodity futures marketsen_US
dc.typeThesisen_US
dc.description.degreeS.M.in Technology and Policyen_US
dc.contributor.departmentMassachusetts Institute of Technology. Engineering Systems Division.en_US
dc.contributor.departmentMassachusetts Institute of Technology. Technology and Policy Program.en_US
dc.identifier.oclc836717427en_US


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