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Why stock markets crash : critical events in complex financial systems / Didier Sornette.

By: Publication details: Princeton, N.J. : Princeton University Press, c2003.Description: xx, 421 p. : ill. ; 24 cmContent type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISBN:
  • 0691096309 :
Subject(s): LOC classification:
  • HB3722 .S66 2003
Summary: Sornette boldly applies his varied experience 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 that the underlying cause can be sought months and even years before the abrupt, catastrophic event. 165 illustrations.

Includes bibliographical references (p. 397-418) and index.

Sornette boldly applies his varied experience 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 that the underlying cause can be sought months and even years before the abrupt, catastrophic event. 165 illustrations.

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