Matches in SemOpenAlex for { <https://semopenalex.org/work/W2953896557> ?p ?o ?g. }
Showing items 1 to 63 of
63
with 100 items per page.
- W2953896557 abstract "Author(s): Pinzur, David | Advisor(s): Rona-Tas, Akos | Abstract: Derivative financial instruments figure prominently in the modern global economy, but their modern origins date back to the use of agricultural futures contracts in the mid-19th century. This dissertation analyzes the construction of markets in futures contracts during this period on two exchanges—the Chicago Board of Trade and New Orleans Cotton Exchange. Building these markets posed a unique problem. Unlike extant markets, which could operate autonomously, futures markets had to be constitutively linked with a second underlying market in order to work (e.g., a market in cotton futures linked with an underlying market in cotton itself). Making this linkage required creating infrastructural connections—with institutional, material, and cognitive components—that would allow the two markets to work in concert. Infrastructures had to support an environment in which traders on the futures market could incorporate spot market information into intentionally rational decisions. The Chicago Board of Trade and New Orleans Cotton Exchange built their infrastructures differently. This dissertation asks two questions about this divergence: What factors caused the infrastructure on each exchange to take the shape it did? And, what consequences did these infrastructures have for market behavior? I answer these questions through analyzing the construction and impact of three critical infrastructural features: (1) the classification schemes by which spot commodities were assigned grades ; (2) the material means of gathering and disseminating data, both statistics on the growth and movement of the spot crop, as well as price quotations from global markets; (3) the economic and cultural theories by which traders understood the nature of speculation in futures and its effect on spot markets. I find that the characteristics of these infrastructural elements were shaped less by any uniform concern with efficiency or fairness and more by the distinct economic, cultural, political, and organizational environments on each exchange. Additionally, I suggest that these distinct infrastructures promoted different types of trading on each market—high-risk speculation in Chicago and low-risk hedging in New Orleans—which contributed to the divergent price volatility on these markets during the period of my research." @default.
- W2953896557 created "2019-07-12" @default.
- W2953896557 creator A5006858161 @default.
- W2953896557 date "2016-01-01" @default.
- W2953896557 modified "2023-09-27" @default.
- W2953896557 title "Building Futures Markets: Infrastructure and Outcome on the Chicago Board of Trade and New Orleans Cotton Exchange, 1856-1916" @default.
- W2953896557 hasPublicationYear "2016" @default.
- W2953896557 type Work @default.
- W2953896557 sameAs 2953896557 @default.
- W2953896557 citedByCount "0" @default.
- W2953896557 crossrefType "journal-article" @default.
- W2953896557 hasAuthorship W2953896557A5006858161 @default.
- W2953896557 hasConcept C10138342 @default.
- W2953896557 hasConcept C106159729 @default.
- W2953896557 hasConcept C106306483 @default.
- W2953896557 hasConcept C127413603 @default.
- W2953896557 hasConcept C144133560 @default.
- W2953896557 hasConcept C162324750 @default.
- W2953896557 hasConcept C182306322 @default.
- W2953896557 hasConcept C18762648 @default.
- W2953896557 hasConcept C19244329 @default.
- W2953896557 hasConcept C52837651 @default.
- W2953896557 hasConcept C78519656 @default.
- W2953896557 hasConcept C95727064 @default.
- W2953896557 hasConceptScore W2953896557C10138342 @default.
- W2953896557 hasConceptScore W2953896557C106159729 @default.
- W2953896557 hasConceptScore W2953896557C106306483 @default.
- W2953896557 hasConceptScore W2953896557C127413603 @default.
- W2953896557 hasConceptScore W2953896557C144133560 @default.
- W2953896557 hasConceptScore W2953896557C162324750 @default.
- W2953896557 hasConceptScore W2953896557C182306322 @default.
- W2953896557 hasConceptScore W2953896557C18762648 @default.
- W2953896557 hasConceptScore W2953896557C19244329 @default.
- W2953896557 hasConceptScore W2953896557C52837651 @default.
- W2953896557 hasConceptScore W2953896557C78519656 @default.
- W2953896557 hasConceptScore W2953896557C95727064 @default.
- W2953896557 hasLocation W29538965571 @default.
- W2953896557 hasOpenAccess W2953896557 @default.
- W2953896557 hasPrimaryLocation W29538965571 @default.
- W2953896557 hasRelatedWork W1146161589 @default.
- W2953896557 hasRelatedWork W1489447150 @default.
- W2953896557 hasRelatedWork W1512692915 @default.
- W2953896557 hasRelatedWork W1597886786 @default.
- W2953896557 hasRelatedWork W1983568600 @default.
- W2953896557 hasRelatedWork W2023261650 @default.
- W2953896557 hasRelatedWork W2029456970 @default.
- W2953896557 hasRelatedWork W2057459135 @default.
- W2953896557 hasRelatedWork W2063666451 @default.
- W2953896557 hasRelatedWork W2067891093 @default.
- W2953896557 hasRelatedWork W2247219061 @default.
- W2953896557 hasRelatedWork W2619407771 @default.
- W2953896557 hasRelatedWork W2801432077 @default.
- W2953896557 hasRelatedWork W2914187853 @default.
- W2953896557 hasRelatedWork W298838196 @default.
- W2953896557 hasRelatedWork W3125525375 @default.
- W2953896557 hasRelatedWork W3125583729 @default.
- W2953896557 hasRelatedWork W623080115 @default.
- W2953896557 hasRelatedWork W2184439025 @default.
- W2953896557 hasRelatedWork W3123085655 @default.
- W2953896557 isParatext "false" @default.
- W2953896557 isRetracted "false" @default.
- W2953896557 magId "2953896557" @default.
- W2953896557 workType "article" @default.