Market Manipulation and The Price of Eggs

Free Download Market Manipulation and The Price of Eggs: A Microhistory of Free Markets and Artificial Prices
English | 2025 | ISBN: 3031871707 | 212 Pages | PDF EPUB (True) | 2.3 MB
This Palgrave Pivot presents a microhistory of an important but little-known incident of futures trading. The case in question concerns an incident in the futures market operated by the Chicago Board of Trade (CBOT) in 1968, where an individual trader David Henner was able to set an unusually (and, ultimately unjustified) high closing price for delivery of eggs in six months. By examining the legal and economic theoretical context of this incident, the book argues that the definition of market manipulation is not straightforward, and has been complicated by a reluctance among regulators to accept the idea that ordinary market dynamics can produce a false price.