Title: Price Discovery: The Cooperation of Future and Spot Markets
Abstract: The future market is closely linked to the spot market in the course of price discovery.Future market and spot market have established the price system of the market together,and the future price of an asset and its spot price have good feedback effects.The future price of an asset is equal to its expected future spot price only when there is no systematic risk to this kind of investment.To investigate whether the futures price is the unbiased estimate of the expected future spot price by empirical analyses seems no great significant.
Publication Year: 2006
Publication Date: 2006-01-01
Language: en
Type: article
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