Open Access. Powered by Scholars. Published by Universities.®
- Publication Type
Articles 1 - 3 of 3
Full-Text Articles in Law
Why The Law Hates Speculators: Regulation And Private Ordering In The Market For Otc Derivatives, Lynn A. Stout
Why The Law Hates Speculators: Regulation And Private Ordering In The Market For Otc Derivatives, Lynn A. Stout
Cornell Law Faculty Publications
A wide variety of statutory and common law doctrines in American law evidence hostility towards speculation. Conventional economic theory, however, generally views speculation as an efficient form of trading that shifts risk to those who can bear it most easily and improves the accuracy of market prices. This Article reconciles the apparent conflict between legal tradition and economic theory by explaining why some forms of speculative trading may be inefficient. It presents a heterogeneous expectations model of speculative trading that offers important insights into antispeculation laws in general, and the ongoing debate concerning over-the-counter (OTC) derivatives in particular.
Although trading …
Stability In World Financial Markets: Introductory Remarks, Alan Rechtschaffen
Stability In World Financial Markets: Introductory Remarks, Alan Rechtschaffen
Fordham Journal of Corporate & Financial Law
No abstract provided.
Recent Market Events And The Foundation For Global Market Crises: A Lawyer's Perspective, Philip H. Harris
Recent Market Events And The Foundation For Global Market Crises: A Lawyer's Perspective, Philip H. Harris
Fordham Journal of Corporate & Financial Law
No abstract provided.