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Comportements, croyances et lois causales: l'exemple du marché à terme du brut

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  • Catherine Bruneau
  • Jean-Paul Nicolai

Abstract

We study the role of a future market in the emergence of a causal relation between the crude and product oil markets. The agents' representations (Producer-Refiner) are differentiated but they all ignore this causality which however is revealed by an external observer using the equilibrium prices. Causality in FEIGL's sense ("predictability according to a law") appears to depend on the position of the one realizing the causal analysis.

Suggested Citation

  • Catherine Bruneau & Jean-Paul Nicolai, 1991. "Comportements, croyances et lois causales: l'exemple du marché à terme du brut," Annals of Economics and Statistics, GENES, issue 22, pages 129-152.
    • Handle: RePEc:adr:anecst:y:1991:i:22:p:129-152
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