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The Role of Expected Value Analysis for Speculative Decisions in the Forward Currency Market

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  • Don E. Roper

Abstract

I. Introduction, 157. — II. Expected profits and the generalized mean, 159. — III. A comment on Siegel's analysis, 165. — IV. Expected value analysis in other areas of economics, 168.

Suggested Citation

  • Don E. Roper, 1975. "The Role of Expected Value Analysis for Speculative Decisions in the Forward Currency Market," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 89(1), pages 157-169.
    • Handle: RePEc:oup:qjecon:v:89:y:1975:i:1:p:157-169.
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    File URL: http://hdl.handle.net/10.2307/1881719
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    Citations

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    Cited by:

    1. Felmingham, Bruce & Leong, SuSan, 2005. "Parity conditions and the efficiency of the Australian 90- and 180-day forward markets," Review of Financial Economics, Elsevier, vol. 14(2), pages 127-145.
    2. Kam Chu, 2005. "Solution to the Siegel Paradox," Open Economies Review, Springer, vol. 16(4), pages 399-405, October.
    3. Keivan Mallahi-Karai & Pedram Safari, 2018. "Future exchange rates and Siegel's paradox," Papers 1805.03347, arXiv.org.
    4. Bruce Felmingham & SuSan Leong, 2005. "Parity conditions and the efficiency of the Australian 90‐ and 180‐day forward markets," Review of Financial Economics, John Wiley & Sons, vol. 14(2), pages 127-145.
    5. Jean-Pierre Laffargue, 1977. "La spéculation sur le marché des changes : définitions et paradoxes," Revue Économique, Programme National Persée, vol. 28(4), pages 560-580.
    6. Bruce Felmincham & Peter Mansfield, 1997. "Rationality and the Risk Premium on the Australian dollar," International Economic Journal, Taylor & Francis Journals, vol. 11(3), pages 47-59.
    7. Mallahi-Karai, Keivan & Safari, Pedram, 2018. "Future exchange rates and Siegel's paradox," Global Finance Journal, Elsevier, vol. 37(C), pages 168-172.
    8. Murray C. Kemp & Hans-Werner Sinn, 1990. "A Simple Model of Useless Speculation," NBER Working Papers 3513, National Bureau of Economic Research, Inc.
    9. Fischer Black, 1989. "Equilibrium Exchange Rate Hedging," NBER Working Papers 2947, National Bureau of Economic Research, Inc.
    10. Paul R. Krugman, 1981. "Consumption Preferences, Asset Demands, and Distribution Effects in International Financial Markets," NBER Working Papers 0651, National Bureau of Economic Research, Inc.
    11. Susan Woodward, 1985. "The Jensen's Inequality "Paradox": Its Economic Meaning in the Term Structure, The Fisher Equation, and Foreign Exchange," UCLA Economics Working Papers 379, UCLA Department of Economics.

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