Sand in My Eyes Fled Effect: An Evidence from Saudi Arabia

Ekrem Tufan (), Bahattin Hamarat, Murat Türkeş and Ahmed Abdullah Al-Zahrani
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Ekrem Tufan: School of Applied Sciences, Çanakkale Onsekiz Mart University
Bahattin Hamarat: Çanakkale Onsekiz Mart University
Murat Türkeş: Boğaziçi University
Ahmed Abdullah Al-Zahrani: Private Sector Programmes Institute of Public Administration

A chapter in Economy, Finance and Business in Southeastern and Central Europe, 2018, pp 361-377 from Springer

Abstract: Abstract Psychological, cultural, religious and environmental factors affect human decisions and sometimes cause irrational behaviours. Even this is a common truth, traditional economics claims human is rational and many economic theories based on this idea. Behavioural Finance and Behavioural Economics go against this main assertion and postulates human has bounded rationality. This study investigates influences of the daily weather conditions such as mean and maximum air temperatures, mean and maximum air humidity values and Apparent Temperature Index (ATI) on Riyadh Stock Exchange. Granger Causality Modelhas been applied to these data, and found that daily mean water vapour pressure and daily maximum air temperature variables of the daily weather have affected the Riyad Stock Exchange returns.

Keywords: Riyadh stock exchange; Weather effect; Granger causality; Autocorrelation; Correlation (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-70377-0_25

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DOI: 10.1007/978-3-319-70377-0_25

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