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The University of Southampton
Centre for Risk Research

Shaosong (Shaun) Wang PhD: Weather Effects on Trading Behaviour. 2012

PhD student

Shaosong (Shaun) Wang's Photo

I decided to study for my PhD in the Centre for Risk research because of the global reputation in the area of speculative market behaviour of Professor Ming-Chien Sung and Professor Johnnie Johnson. In addition, I am personally interested in sports betting, particularly related to horse racing and football, and Professors Sung and Johnson are experts in these areas and have, as a result, access to several interesting datasets.

In my research I have linked UK hourly weather data (related to cloudiness, rainfall, temperature, air pressure and wind speed) and UK spread-trading market data, using 'Multi-level mixed models'.  I have found a significant relationship between weather and individuals' trading behaviour in the UK spread-trading market. In particular, less informed traders are more affected by weather than more informed traders. I have also found a significant correlation between weather and the disposition effect in the UK spread-trading market, particularly in summer months. Currently, I am exploring the relationship between weather changes and individuals risk-taking behaviours.

My Phd supervisors are Professor Ming-Chien Sung and Professor Johnnie Johnson.

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