Happiness and Gold Prices

Arbeitspapier

We use the Twitter-based Hedonometer happiness index to study the link between happiness and gold price changes. We find no significant correlation between the two when we look at correlations across the entire distributions. However, turning to an extreme value theory (EVT) modeling of the tails of the non-normally distributed happiness distribution we find that during particularly depressing days the gold price often goes up. In a sense, gold is found to serve as a happiness-related safe haven, i.e. as a hedge against extreme unhappiness.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 2020:1

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Search; Learning; Information and Knowledge; Communication; Belief; Unawareness ; Information and Market Efficiency; Event Studies; Insider Trading ; Behavioral Finance: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets‡
• Thema: Twitter ; happiness ; Hedonometer ; gold price ; tail ; extreme value theory

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Byström, Hans
• Ereignis: Veröffentlichung
• (wer): Lund University, School of Economics and Management, Department of Economics
• (wo): Lund
• (wann): 2020

Weitere Informationen

• Handle: http://hdl.handle.net/10419/260293
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ