This paper emphasizes the importance of endogenous (price) uncertainty as distinct from the standard exogenous uncertainty about the state of the world. Markets where agents can enter into forward contracts contingent upon future spot prices are studied with respect to existence of equilibrium, occurrence of speculation, and efficiency.
MLA
Svensson, Lars E. O.. “Efficiency and Speculation in a Model with Price-Contingent Contracts.” Econometrica, vol. 49, .no 1, Econometric Society, 1981, pp. 131-151, https://www.jstor.org/stable/1911130
Chicago
Svensson, Lars E. O.. “Efficiency and Speculation in a Model with Price-Contingent Contracts.” Econometrica, 49, .no 1, (Econometric Society: 1981), 131-151. https://www.jstor.org/stable/1911130
APA
Svensson, L. E. O. (1981). Efficiency and Speculation in a Model with Price-Contingent Contracts. Econometrica, 49(1), 131-151. https://www.jstor.org/stable/1911130
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