From hedging to speculation -- an explanation based on prospect theory

DOI10.1007/S11424-008-9121-YMaRDI QIDQ732795zbMATH OpenOpenAlexFDO

Authors Qingwei Liu, Yi Li, Shouyang Wang

Publication date 15 October 2009

Published in Journal of Systems Science and Complexity (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s11424-008-9121-y

zbMATH Keywords

reference pointhedgingloss aversionprospect theory

Mathematics Subject Classification ID

Financial applications of other theories (91G80)

Recommendations

• Firm's hedging behavior without the expected utility hypothesis
• Futures markets, production and diversification of risk
• Optimal hedging and equilibrium in a dynamic futures market
• Optimal hedging in the futures market under price uncertainty
• Speculative trading, prospect theory and transaction costs

Cites work

• Prospect Theory: An Analysis of Decision under Risk
• Prospect theory and asset prices

Cited in

(2)

• Greed, leverage, and potential losses: a prospect theory perspective
• Risk-hedging in real estate markets

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