Lunacy in the stock market - What is the evidence?

Journal of Bioeconomics

Volumn 9, Issue 1, 2007, Pages 1-18

  Herbst, Anthony F ^a  

^a UNIVERSITY OF TEXAS AT EL PASO   (United States)

Author keywords

Lunar cycles; Moon phases; Stock market; Volatility

Indexed keywords

ECONOMIC IMPACT; FINANCE; PREDICTION; PRICE DYNAMICS; STOCK MARKET;

ANIMALIA;

EID: 34547119068     PISSN: 13876996     EISSN: None     Source Type: Journal    
DOI: 10.1007/s10818-007-9016-3     Document Type: Article

References (8)

1. Dewey, Edward R. 1971. Cycles: The mysterious forces that trigger events. Foundation for the Study of Cycles, New York.
2. Dichev, Illia D. & Janes, Troy D. 2003. Lunar cycle effects in stock returns. The Journal of Private Equity (Fall). Retrieved May 26, 2004 from Social Science Research Network Electronic Paper Collection: http://papers.ssrn.com/abstract=281665
3. Fama Eugene F. (1965). The distribution of daily stock prices: A test of Mandelbrot's stable Paretian hypothesis. Journal of Business 38:34-105
4. Garman Mark B., Michael J. Klass (1980). On the estimation of security price volatilities from historic data. Journal of Business 53(1):67-78
5. Katzeff, Paul. 1981. Moon madness and other effects of the full moon. Citadel Press, Secaucus, NJ.
6. Mandelbrot, Benoit. 1963. The variation of certain speculative prices. Journal of Business 26:394-419. (See also http://www.quantlet.de/scripts/ lns/mrcssnode78.html)
7. Palmer John D. (2002). The living clock: The orchestrator of biological rhythms. Oxford University Press Inc., New York.
8. Yuan, Kathy, Lu Zheng, & Qiaoqio Zhu. 2006. Are investors moonstruck? Lunar phases and stock returns. The Journal of Empirical Finance 13(1):1-23. http://webuser.bus.umich.edu/kyuan/papers/lunar.pdf