Parimutuel Applications in Finance: New Markets for New Risks. With a forward by Professor Robert Shiller (Finance and Capital Markets Series)

by Jeffrey Lange (Author), Ken Baron (Author)

• New

  Hardcover
  2007

  $300.93

  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.