Why stock markets crash critical events in complex financial systems
The scientific study of complex systems has transformed a wide range of disciplines in recent years, enabling researchers in both the natural and social sciences to model and predict phenomena as diverse as earthquakes, global warming, demographic patterns, financial crises, and the failure of mater...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Princeton, NJ ; Oxford
Princeton University Press
[2017]
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| Ausgabe: | with a new preface by the author |
| Schlagworte: | |
| Online-Zugang: | DE-1043 DE-1046 DE-858 DE-Aug4 DE-573 DE-859 DE-860 DE-1049 DE-473 DE-706 DE-29 DE-739 URL des Erstveröffentlichers |
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| Zusammenfassung: | The scientific study of complex systems has transformed a wide range of disciplines in recent years, enabling researchers in both the natural and social sciences to model and predict phenomena as diverse as earthquakes, global warming, demographic patterns, financial crises, and the failure of materials. In this book, Didier Sornette boldly applies his varied experience in these areas to propose a simple, powerful, and general theory of how, why, and when stock markets crash. Most attempts to explain market failures seek to pinpoint triggering mechanisms that occur hours, days, or weeks before the collapse. |
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| Beschreibung: | Frontmatter -- - Contents -- - Preface to the Princeton Science Library Edition -- - Preface to the 2002 Edition -- - Chapter 1. Financial Crashes: What, How, Why, and When? -- - Chapter 2. Fundamentals of Financial Markets -- - Chapter 3. Financial Crashes Are "Outliers" -- - Chapter 4. Positive Feedbacks -- - Chapter 5. Modeling Financial Bubbles and Market Crashes -- - Chapter 6. Hierarchies, Complex Fractal Dimensions, and Log-Periodicity -- - Chapter 7. Autopsy of Major Crashes: Universal Exponents and Log-Periodicity -- - Chapter 8. Bubbles, Crises, and Crashes in Emergent Markets -- - Chapter 9. Prediction of Bubbles, Crashes, and Antibubbles -- - Chapter 10. 2050: The End of the Growth Era? -- - References -- - Index |
| Beschreibung: | 1 Online-Ressource (xxvi, 422 Seiten) |
| ISBN: | 9781400885091 |
| DOI: | 10.1515/9781400885091 |