Anderson Graduate School of Management, University of California Los Angeles. This article was prepared for the Presidential Address of the American Finance Association meetings in New Orleans, January 1997. I thank Richard Roll, Alan Kraus, Ernest Greenwood, and Kristian Miltersen for suggestions and Olivier Ledoit, Piet de Jong and Julian Franks for helpful discussions. I especially thank Michael Brennan, not only for his comments on this article, but for 25 years of inspiration, advice, and friendship. Part of this research was done while I was a visiting scholar at the University of British Columbia during the summer of 1996.
The Stochastic Behavior of Commodity Prices: Implications for Valuation and Hedging
Article first published online: 18 APR 2012
1997 The American Finance Association
The Journal of Finance
Volume 52, Issue 3, pages 923–973, July 1997
How to Cite
SCHWARTZ, E. S. (1997), The Stochastic Behavior of Commodity Prices: Implications for Valuation and Hedging. The Journal of Finance, 52: 923–973. doi: 10.1111/j.1540-6261.1997.tb02721.x
- Issue published online: 18 APR 2012
- Article first published online: 18 APR 2012
Options for accessing this content:
- If you have access to this content through a society membership, please first log in to your society website.
- If you would like institutional access to this content, please recommend the title to your librarian.
- Login via other institutional login options http://onlinelibrary.wiley.com/login-options.
- You can purchase online access to this Article for a 24-hour period (price varies by title)
- If you already have a Wiley Online Library or Wiley InterScience user account: login above and proceed to purchase the article.
- New Users: Please register, then proceed to purchase the article.
Type your institution's name in the box below. If your institution is a Wiley customer, it will appear in the list of suggested institutions and you will be able to log in to access content. Some users may also log in directly via OpenAthens.
Please note that there are currently a number of duplicate entries in the list of institutions. We are actively working on fixing this issue and apologize for any inconvenience caused.
Registered Users please login:
- Access your saved publications, articles and searches
- Manage your email alerts, orders and subscriptions
- Change your contact information, including your password
Please register to:
- Save publications, articles and searches
- Get email alerts
- Get all the benefits mentioned below!