1 Department of Business and Economics, Faculty of Business and Social Sciences, SDU2 unknown3 Department of Business and Economics, Faculty of Business and Social Sciences, SDU
We analyze more than 20,000 forecasts of nine metal prices at four different forecast horizons. We document that forecasts are heterogeneous and report that anti-herding appears to be a source of this heterogeneity. Forecaster anti-herding reflects strategic interactions among forecasters that foster incentives to scatter forecasts around a consensus forecast. (C) 2012 Elsevier B.V. All rights reserved.
Journal of Banking and Finance, 2013, Vol 37, Issue 1, p. 150-158
Metal prices Forecasting Forecaster (anti-)herding EFFICIENCY EXCHANGE MARKETS COINTEGRATION