Multiple Inference and Market Integration: An Application to Swedish Fish Markets
采用考虑多重推断问题的方法检验瑞典12种鱼类市场的整合程度，发现两个物种集群存在整合，且其中6种符合一价定律。
Abstract This paper, in contrast to earlier studies, tests market integration using a methodology that accounts for the multiplicity problem inherent in testing several time series. This method minimises the risk of finding spurious evidence of market integration. We examine market integration among 12 fish species in Sweden by applying cointegration tests, which identify market integration for two separate clusters of species. Furthermore, we find that the Law of One Price holds for 6 of the 12 species considered.