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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.

Publisher ‏ : ‎ Palgrave Macmillan (November 28, 2006)
Language ‏ : ‎ English
Hardcover ‏ : ‎ 305 pages
ISBN-10 ‏ : ‎ 1403939500
ISBN-13 ‏ : ‎ 978-1403939500
Item Weight ‏ : ‎ 1.37 pounds
Dimensions ‏ : ‎ 5.98 x 0.81 x 9.02 inches

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