Price clustering in Australian water markets

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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.
Original languageEnglish
Pages (from-to)677 - 685
Number of pages9
JournalApplied Economics
Volume45
Issue number6
DOIs
Publication statusPublished - 2013

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