At the end of the fifteenth century, the consumption of tea remained predominantly in the East, and only a few wealthy western aristocrats knew of the tea plant. Only one[...]

This dissertation contains three connected essays that feature financial market innovation and product market innovation. Two essays feature return predictability in comm[...]

Primary commodities are the most essential inputs within the industrial production of goods and services. Business cycles and macroeconomic factors such as supply and dem[...]

In this dissertation, we consider European-style commodity options and futures options where the logarithm of the underlying commodity price dynamics is governed by the r[...]