The contribution of digital technology in the implementation of a price guarantee: application to grain markets with futures and options.

Summary This doctoral work aims to bring the French grain farmer closer to the financial markets through a serious game. For an agricultural producer, the uncertainty on price and quantities induces an important risk. Negotiating a contract with an intermediary (stockholder or broker) makes it possible to transfer part of the risk, but increases the dependence of grain farmers on third parties. Financial hedging against the risk of price variations is studied in the case of the European market Euronext, in order to evaluate its relevance: futures and options are analyzed from a micro-structural point of view (volume, open position, volatility, information and volatility transfers, contract holders, position rollovers) and compared. The markets are then set aside to focus on the characteristics of grain farmers through qualitative surveys. Finally, a digital tool in the form of a serious game is developed to introduce grain farmers to the financial markets.