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Item Details
Title: MANIPULATION ON TRIAL
ECONOMIC ANALYSIS AND THE HUNT SILVER CASE
By: Jeffrey C. Williams
Format: Paperback

List price: £42.00
Our price: £36.75
Discount:
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You save: £5.25
ISBN 10: 0521063477
ISBN 13: 9780521063470
Availability: Usually dispatched within 1-3 weeks.
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Publisher: CAMBRIDGE UNIVERSITY PRESS
Pub. date: 1 March, 2008
Pages: 268
Description: The first economic analysis of the Hunt silver case, the biggest manipulation case ever brought to trial.
Synopsis: The unprecedented rise and fall in silver's price during 1979 and 1980 resulted in charges against the Hunt brothers of Dallas of monopolization and market manipulation, charges which led to a lengthy trial. This book focuses on the economic analysis used at this trial. Drawing upon interviews with the judge, jury, attorneys and expert witnesses (the author having so served), it investigates the elusive definition of manipulation in sophisticated markets, the difficulties of interpreting statistical evidence, the imprecision in calculating damages, the hidden assumptions behind inferences concerning intent, and the hazards introduced when economic analysis enters complex litigation. The author concludes that these problems induce courtroom procedures to oversimplify the economic analysis and cause the law on market manipulation to be created retroactively. Yet the failure lies not with the legal institutions but with the futures exchanges who had not developed in advance the rules to minimize large-scale trading during the unusual price moves.
Illustrations: 30 b/w illus. 18 tables
Publication: UK
Imprint: Cambridge University Press
Returns: Returnable
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