Thursday, June 09, 2011

Finally, light on why oil markets are suffering from "irrational exuberance" again

In his daily roundup of academic news ("whether Serious, Sublime, Surreal or otherwise"), Kevin Lewis of the US publication, National Affairs, reports the following research by Tamir Levy of Netanya Academic College and Joseph Yagil of Haifa University, Israel.

Air pollution affects mood, which affects stock prices:
Average daily returns on stock indexes for days with unhealthy air-pollution levels range from −0.45% to −0.26%, while on good days, returns are positive, ranging from +0.04% to +0.06%.

Well, what can I say?

Only that the air must be PARTICULARLY healthy at present. Sphere: Related Content

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