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Producers’ preferences for round number prices

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Author Info

  • Joni M. Klumpp
  • B. Wade Brorsen
  • Kim B. Anderson

Abstract

The purpose of this study was to determine if a preference for round prices exists in the wheat market and how wheat sales react to price movements around whole-dollar amounts. The results show round prices are slightly more prevalent than non round prices, and transactions increase when price moves above a whole-dollar amount. While such predictable behavior could be exploited by speculators in other markets, the effect is not large enough to merit concern in the market studied here.

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Bibliographic Info

Article provided by Emerald Group Publishing in its journal Agricultural Finance Review.

Volume (Year): 67 (2007)
Issue (Month): 2 (September)
Pages: 377-385

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Handle: RePEc:eme:afrpps:v:67:y:2007:i:2:p:377-385

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Related research

Keywords: Behavioral finance; Round prices; Threshold prices; Wheat;

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