history of forward contracts (historical evidence for forward contracts)

Kim Oosterlinck
From The New Palgrave Dictionary of Economics, Online Edition, 2009
Edited by Steven N. Durlauf and Lawrence E. Blume
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Abstract

A forward contract is an agreement between two parties who specify today the terms (price, underlying asset, quantity, etc.) of an exchange that is to take place at a known future date. Forward contracts can be traced to Greek and Roman times, and may have occurred earlier still; they have been widely traded in Europe (and subsequently elsewhere) since the Middle Ages.
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How to cite this article

Oosterlinck, Kim. "history of forward contracts (historical evidence for forward contracts)." The New Palgrave Dictionary of Economics. Online Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2009. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 25 October 2014 <http://www.dictionaryofeconomics.com/article?id=pde2009_H000192> doi:10.1057/9780230226203.1910

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