Narjiss Araba is one of the #DigitAg co-funded PhDs.
She defended her thesis on Monday 16th November 2020 at 10.30 AM.
The contribution of digital technology to the implementation of a price guarantee: application to cereal markets with futures and options
- Start Date: October2017
- University: MUSE Montpellier University of Excellence / Montpellier SupAgro
- PhD School :EDEG , Montpellier
- Field(s): Economics
- Doctoral Thesis Advisor: Alain François-Heude, MRM, Université de Montpellier
- Co-supervisors : Louis-Antoine Saïsset, MOISA, L’Institut Agro
- Funding: #DigitAg – Université de Montpellier
- #DigitAg: Axis 2 – Challenge 7
Keywords: Commodities ; Hedging ; Technology appropriation ; Cereals : Serious game
For an agricultural producer, the uncertainty on the price and the quantities leads to an important risk. The negotiation of a contract with an intermediary (stacker or broker) allows to transfer a part of the risk. An hedging position taken directly on the derivatives markets allows to optimize the profits. Having shown the relevance of an hedging (on the futures market andor on that of the options) from a point of view of a purely financial investor, the characteristics inherent to the grain farmer are integrated (cognitive capacity, risk aversion, the behavior of the stakeholders, the …). An IT application allowing to optimize the dynamic hedging will be developed on the basis of the model for an immediate decision by associating the producers and the financial partners, then in a prospect of sustainability of activity. An extension is envisaged to handle productions distant from the standard product exchanged on the financial markets of organic type. The managerial innovation is under tightened by the digital tool and should contribute to favor the appropriation of the tools of hedging in accordance with the producers.
Contact: narjiss.araba [AT] umontpellier.fr
Communications / Publications
Araba N. and François-Heude A (2020), Revised rollover measure: an application to Euronext’s wheat futures contract, Finance Bulletin, 1(3), pp. 1-13.
- Présentation des travaux en cours à l’atelier axes 1 et 2 de #DigitAg “Les SHS et le numérique”, 2 février 2018 – pdf à télécharger