La speculation travestie

Speculation Spillovers Speculation Spillovers

This paper demonstrates that investor irrationality can be contagious across markets. Supplementing existing studies on resale option theory, we illustrate that warrant speculation could spill over to the underlying stock market. Our findings indicate that high turnover of underlying stocks is associated with previous day’s high unexpected turnover of warrants, or previous day’s larger price de...

Food Speculation

Speculation Spillover

This paper demonstrates that investor irrationality can be contagious across markets. Studies addressing the pros and cons of opening derivatives markets have failed to pay sufficient attention to the roles of speculative activities. This paper investigates how trading activities that are unrelated to fundamentals affect the impact of derivatives on stock markets. By using unique data from the ...

Understanding Method Level Speculation

Method level speculation (MLS) is an optimistic technique for parallelizing imperative programs, for which a variety of MLS systems and optimizations have been proposed. However, runtime performance strongly depends on the interaction between program structure and MLS system design choices, making it difficult to compare approaches or understand in a general way how programs behave under MLS. H...

Hypoellipticity: Geometrization and Speculation

To any finite collection of smooth real vector fields Xj in R we associate a metric in the phase space T ∗Rn. The relation between the asymptotic behavior of this metric and hypoellipticity of ∑ X j , in the smooth, real analytic, and Gevrey categories, is explored. To Professor P. Lelong, on the occasion of his 85th birthday.