There are other income factors, besides the aggregate national income and labour income factors discussed in Ch. 4, that contribute as much uncertainty to the incomes of individuals and organizations as do many risks currently traded in financial markets. If those who retail insurance policies against risks of changes in values of claims on incomes or service flows are to be able to tailor their insurance to the various exposures that their different clients have to these risks, they will want to layoff in hedging markets the risks of changes in these income factors that influence them because they are providing the insurance policies. This chapter considers some of the most salient of these other markets: real estate, unincorporated business, and privately held corporations, consumer and producer price index futures, agriculture, and art and collectibles. It also presents some ideas on systematic approaches to finding other markets, including modelling the tendency for co-movement of incomes and inferring the underlying factors, i.e. looking for the major risk factors to incomes for which new markets would be most useful.
Keywords: agriculture, agriculture markets, art, art markets, collectibles, collectibles markets, consumer price index futures, consumer price indices, economic indices, financial markets, futures markets, hedging, hedging markets, income, insurance markets, new markets, privately held corporation markets, privately held corporations, producer price index futures, producer price indices, real estate, real estate markets, risk management, unincorporated business markets, unincorporated businesses