| 期货合约的简单创新 |
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| 引用本文： | 张顺明. 期货合约的简单创新[J]. 经济数学, 2001, 18(2): 10-22 |
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| 作者姓名： | 张顺明 |
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| 作者单位： | 清华大学管理学院,北京,100084 |
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| 基金项目： | a project of Financial Mathematics, Financial Engineering and Financial Management, which is one of "Ninth Five-Year Plan" Major |
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| 摘 要： | 本文通过观察代办收入最大化交换,提出期货合约创新的一个简单两阶段模型.经济代理商具有均值-方差偏好,按代理买卖量的大小,在期货合约过程中收取交易费用.期货交易过程中存在价差.代办收入最大化交换促成期货合约的创新.
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| 关 键 词： | 交易费用 一般均衡 代办收入最大化 资金变异 |
SIMPLE INNOVATION OFFUTURES CONTRACT |
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| Abstract. SIMPLE INNOVATION OFFUTURES CONTRACT[J]. Mathematics in Economics, 2001, 18(2): 10-22 |
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| Authors: | Abstract |
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| Abstract: | This paper presents a simple two-period model of the innovation of futures contract by commission-revenue maximization exchange. The economic agents with mean-variance preferences take transaction costs in the process of trading the futures contract, the buying per-unit commission of the futures contract and the selling per-unit commission of the futures contract. There is margin in the trading process of futures contract. The commission-revenue maximization exchange innovates futures contract. |
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| Keywords: | Transaction costs general equilibrium commission-revenue maximization endowment differential |
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