Parimutuel Applications In Finance
New Markets for New Risks| By: | Ken Baron; Jeffrey Lange |
| Publisher: | Springer Nature |
| Print ISBN: | 9781403939500 |
| eText ISBN: | 9780230627505 |
| Edition: | 0 |
| Copyright: | 2007 |
| Format: | Page Fidelity |
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Table of Contents
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.