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Price clustering in Australian water markets

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Author Info

  • Robert Brooks
  • Edwyna Harris
  • Yovina Joymungul

Abstract

The finding of clustering in financial prices on particular digits is common across a broad range of financial markets. This article explores whether price clustering is also present in the case of the weekly market for seasonal water in rural Victoria, Australia. We find a similar degree of clustering in the seasonal water market. This suggests that the trading activities of the market produce characteristics that are similar to more sophisticated and deeper financial markets.

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File URL: http://hdl.handle.net/10.1080/00036846.2011.610747
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 45 (2013)
Issue (Month): 6 (February)
Pages: 677-685

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Handle: RePEc:taf:applec:45:y:2013:i:6:p:677-685

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Cited by:
  1. Fernando Palao & Ángel Pardo Tornero, 2012. "When size matters: Clustering in the European Carbon Market," Working Papers. Serie EC 2012-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).

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