What question did this study set out to answer?

This work aims to explore the interaction between speculation and its effects on supply and demand in market economics.

May 1, 1936

Speculation and the Carryover

Key Points

This work aims to explore the interaction between speculation and its effects on supply and demand in market economics.
Analysis of supply and demand curves with respect to speculation.
Evaluation of price dynamics during different crop yields.
Discussion of equilibrium status over single and multiple years.
Speculation significantly affects consumption and production levels.
Price fluctuations exhibit a saw-tooth pattern in years without carryover.
A defined number of years' holding is essential for market stability.

Abstract

Speculation upon the supply, and upon the demand, 436.— Definition of the carryover, 436.— The demand curve, 438.— The supply curve, 438.— Yields and the weather, 439.— Price of a short crop, 441. — Of a bumper crop, 441.— The carrying charge, 441.— Effect of speculation on consumption, 442— On production, 442.— Equilibrium in a one-year's operation, 443.— In a several-years' operation, 446.— Number of years' holding needed, 447.— Saw-tooth course of prices in years without carryover, 448.— Solution by successive approximation, 449.— Corollaries, 450.— Speculation upon the demand, 450.— Note on probability, 452.

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Speculation and the Carryover

Key Points

Abstract

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