Why Stock Markets Crash: Critical Events in Complex Financial Systems
 |
|
Описание:
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. Sornette proposes a radically different view: the underlying cause can be sought months and even years before the abrupt, catastrophic event in the build-up of cooperative speculation, which often translates into an accelerating rise of the market price, otherwise known as a "bubble." Anchoring his sophisticated, step-by-step analysis in leading-edge physical and...Похожие книги
 | The Island of the Day Before Автор: Umberto Eco Год: 1998 |
 | Risk Management in Post-Trust Society Автор: Ragnar E. Lofstedt Год: 2005 |
| Getting Your Book Published For Dummies® Автор: Sarah Parsons Zackheim Год: 2000 |
| Where Do We Begin Автор: Nicholas Eldridge Год: 2010 |
 | Luxury Fashion Management: Brand and Marketing Management in the ever-changing Luxury Fashion Industry Автор: Marcha van Dijk Год: 2009 |