Psychological Barriers and Price Clustering in Energy Futures

Brian Lucey and Michael Dowling

The Institute for International Integration Studies Discussion Paper Series from IIIS

Abstract: We find evidence for price clustering in both oil and coal price data. We further find that there is significant evidence that these clusterings represent psychological barriers, and that these affect both the level and the volatility of prices around these barriers.

Keywords: WTI oil futures; coal futures; gas; oil; psychological barriers; behavioural finance; clustering; barriers (search for similar items in EconPapers)
JEL-codes: G14 G15 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2012-08
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:iis:dispap:iiisdp405

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