This paper investigates the possibility of psychological barriers in the price dynamics of seven types of coffee varieties over a twenty-year period. When prices are expressed in hundreds of cents, barriers surrounding the round number prices ending in 00 are confirmed for the high quality coffees. The dynamics of coffee price returns differ before and after breaches of hypothesised barriers. Using a novel model selection method based on multiple testing, there is further confirmation of price barriers insofar as positive and negative climate anomalies affect coffee price proximity to barriers.

中文翻译：

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心理价格壁垒、厄尔尼诺、拉尼娜：对咖啡案例的新见解

本文研究了二十年来七种咖啡品种价格动态中存在心理障碍的可能性。当价格以数百美分表示时，围绕以 00 结尾的整数价格的障碍就确定为高品质咖啡。在突破假设障碍之前和之后，咖啡价格回报的动态有所不同。使用基于多重测试的新颖模型选择方法，可以进一步确认积极和消极的气候异常影响咖啡价格接近壁垒的价格壁垒。