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HAVA DURUMU TÜREVLERİ VE İKLİM RİSKLERİNE KARŞI POTANSİYEL FAYDALARI ÜZERİNE BİR İNCELEME

AN EXAMINATION ON WEATHER DERIVATIVES AND THEIR POTENTIAL BENEFITS AGAINST CLIMATE RISKS

Journal Name:

  • Girişimcilik ve Kalkınma Dergisi

Publication Year:

  • 2011

Key Words:

Keywords (Original Language):

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
The first transaction in the weather derivatives market took place in 1997. Since that time, the market has expanded rapidly into a flourishing over the counter (OTC) market. The primary objective of this article is describing weather risk and the pricing of weather based derivative contracts. In this context, an empirical investigation is undertaken using hypothetical data from İzmir. Both put and call option pricing are investigated with some cases.
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Abstract (Original Language): 
İlk hava durumuna dayalı türev araçlar 1997 yılında kullanılmaya başlanmıştır. Bu yıldan sonra özellikle tezgahüstü piyasada bu pazar oldukça büyümüştür. Bu makalenin temel amacı hava durumu riskini ve hava durumuna dayalı türev araçların fiyatlandırmasını tanımlamaktır. Bu kapsamda, İzmir'e ilişkin hipotetik veriler kullanılarak bir amprik araştırma yapılmıştır. Örnek olaylar yardımıyla alım ve satım opsiyonu fiyatlaması incelenmiştir.
FULL TEXT (PDF): 
PDF icon arastirmax-hava-durumu-turevleri-iklim-risklerine-karsi-potansiyel-faydalari-uzerine-bir-inceleme.pdf
  • 1
206-220
  • Turkish

REFERENCES

References: 

ELLITHORPE D. ve Putnam S. (2000). Weather Derivatives and Their Implications for Power Market, The Journal of Risk Finance, Winter
GARMAN M., Balnco C. ve Erickson R. (2000). Seeking Standard Pricing Model, Environmetal Finance, Mart
JEWSON S. ve Brix A. (2005). Weather Derivative Valuation The Meteorological, Statistical, Financial and Mathematical Foundations, Cambridge University Pres
SHIYONG Y. (2003). Weather Derivatives and Seasonal Forecast, Doctoral Dissertations, Cornell University
TINDALL J. (2006). Weather Derivatives: Pricing and Risk Management Applications, Institute of Actuaries of Australia,
www.cme.com/weather/introweather.pdf/01.12.2

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