The Preference for Round Number Prices
This study determines 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 that transactions increase when price moves above a whole dollar amount.
|Date of creation:||2005|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.saea.org/|
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- Fischer, Andreas M, 2004.
"Price Clustering in the FX Market: A Disaggregate Analysis Using Central Bank Intervention,"
CEPR Discussion Papers
4529, C.E.P.R. Discussion Papers.
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- Carol L. Osler, 2003. "Currency Orders and Exchange Rate Dynamics: An Explanation for the Predictive Success of Technical Analysis," Journal of Finance, American Finance Association, vol. 58(5), pages 1791-1820, October.
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