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Futures techniques used in the multi-disciplinary field of futurology by futurists in Americas and Australasia, and futurology by futurologists in EU, include a diverse range of forecasting methods, including anticipatory thinking, backcasting, simulation, and visioning. Some of the anticipatory methods include, the delphi method, causal ...
While futures and forward contracts are both contracts to deliver an asset on a future date at a prearranged price, they are different in two main respects: Futures are exchange-traded, while forwards are traded over-the-counter. Thus futures are standardized and face an exchange, while forwards are customized and face a non-exchange counterparty.
Futures studies, futures research or futurology is the systematic, interdisciplinary and holistic study of social and technological advancement, and other environmental trends, often for the purpose of exploring how people will live and work in the future.
A futures contract can be bought and sold constantly until the expiration date. A trader, for example, might buy a futures contract on crude oil at 10:00 a.m. for $70 and sell it at 3:00 p.m. for $72.
Three Horizons (or 3H) is a framework and method for futures studies and practice, created by Anthony Hodgson, Andrew Curry, Graham Leicester, Bill Sharpe, Andrew Lyon and Ioan Fazey. [1] It presents a picture of change in a given system as an interplay of three horizons. [ 1 ]
In his doctoral thesis, Rikkonen (2005) [39] examined the utilization of Delphi techniques in scenario planning and, concretely, in construction of scenarios. The author comes to the conclusion that the Delphi technique has instrumental value in providing different alternative futures and the argumentation of scenarios.