Parimutuel applications in finance: new markets for new risks
Auteur :
Baron, Ken / Lange, Jeffrey
Éditeur :
Palgrave USA
ISBN :
9781403939500
Date de publication :
28 nov. 2006
Dimensions :
22,9 x 15,2 cm
Langue :
Anglais
Pays d'origine :
USA
Financial intermediaries typically offer derivatives to their customers only when they can hedge the exposures from these transactions. Baron and Lange show that parimutuel auctions can be used by financial intermediaries to offer derivatives without exposing themselves to risk.