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Hybrid mean value results for a generalization on a problem of D.H.Lehmer and hyper-Kloosterman sums
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The Syntax of Quasi-Existential Construction in Japanese : Complex Predicates and Argument Structure
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キンセイ シジョウ キコウ ノ ケイセイ カテイ ドウジマコメカイショ ニ オケル コメカ ケイセイ ノ コウリツセイ
Get PDF* Revised: [07-19, 2007]This paper examines the e±ciency of the Dojima Rice Market established in 1730 inOsaka, and closed in 1869 due to the collapse of Tokugawa Shogunate. It had already beenshown that there existed the price mechanism in Dojima. However, the most signi¯cantquestion: Whether the world ¯rst commodity futures market was e±cient or not, remainsto be unanswered.Before applying the empirical analyses, this paper ¯rst introduces the daily price indexconstructed from the original historical document, \Yorozu Souba Nikki (Daily memorandumof commodity price indices)," written by the contemporary rice merchant who dealt in therice. From this memorandum, we can construct the daily price index both in the futuresand the spot market during the period from 1798 to 1856.Based on this price index, the test of unbiasedness hypothesis and the classic measureof market e±ciency; \weak-form e±ciency" were applied to Dojima Rice Market, and it isshown that there existed these types of e±ciency
