Why stock markets crash

Critical events in complex financial systems

Didier Sornette

422 pages, parution le 07/04/2004

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Résumé

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, general theory of how, why, and when stock markets crash.

Any investor or investment professional who seeks a genuine understanding of looming financial disasters should read this book. Physicists, geologists, biologists, economists, and others will welcome Why Stock Markets Crash as a highly original study of the exciting and sometimes fearsome but no longer quite so unfathomable world of stock markets.

Sommaire

Financial crashes: what, how, why, and when?
Fundamentals of financial markets
Financial crashes are "outliers"
Positive feedbacks
Modeling financial bubbles and market crashes
Hierarchies, complex fractal dimensions, and log-periodicity
Autopsy of major crashes: universal exponents and log-periodicity
Bubbles, crises, and crashes in emergent markets
Prediction of bubbles, crashes, and antibubbles
2050 : the end of the growth era?

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Princeton University Press
Auteur(s)	Didier Sornette
Parution	07/04/2004
Nb. de pages	422
Format	15,5 x 23,5
Couverture	Broché
Poids	626g
Intérieur	Noir et Blanc
EAN13	9780691118505
ISBN13	978-0-691-11850-5