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reduce the risk itself by guiding present production and consumption (who know more than sellers about future conditions of demand) may
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reduce the risk itself by guiding present production and consumption (who know more than sellers about future conditions of demand) may
forward prices will give perfect foresight of the actual price develop- ments that will in fact take place. It can now be seen why, in order to achieve perfect foresight through forward markets, we had to make such strict assumptions as those made above (p. 467). If new members of the population were to
Edition 1st Edition
First Published 1968
Imprint Routledge
Pages 2
eBook ISBN 9780203106594