Behavioral influences in non-ferrous metals prices

Mark Cummins (1) , Michael Dowling (2) , Brian Lucey (3, 4)

1 University Business School [Dublin]
2 ESC Rennes School of Business
3 Trinity College Dublin
4 University of Ljubljana

Recent research has identified the presence of behavioral influences on traders in predominantly professionally traded markets such as oil, gold, and foreign exchange. Previous research had largely confined behavioral-based investigations to equity markets due to an assumption that noise traders would drive any influence and these traders were mainly absent from the professionally traded markets. This paper extends this research to the non-ferrous metals markets and demonstrates similar influences on prices. It is shown that psychological price barriers, where there is predictable trading patterns around psychologically important price points, are important.

Domaines: Psychologie et comportements

Mark Cummins, Michael Dowling, Brian Lucey. Behavioral influences in non-ferrous metals prices. Resources Policy, 2015, 45, pp.9-22. ⟨10.1016/j.resourpol.2015.03.002⟩. ⟨hal-04028643⟩