16 ms·
I think the point is that the market rate was "unfair" (depending on your definition of fairness), as it was based on massively assymetric information.
by folli 6y ago
I think the point is that the market rate was "unfair" (depending on your definition of fairness), as it was based on massively assymetric information.
- londons_explore 6y agoPresumably there could have been asymmetry in the other direction too? Perhaps the americans knew they were in for a bumper wheat crop, and thought they'd lock in the price now before prices fell?