Logotipo librería Marcial Pons
Why stock markets crash

Why stock markets crash
critical events in complex financial systems

  • ISBN: 9780691175959
  • Editorial: Princeton University Press
  • Lugar de la edición: New Jersey. Estados Unidos de Norteamérica
  • Colección: Princeton Science Library
  • Encuadernación: Rústica
  • Medidas: 22 cm
  • Nº Pág.: 407
  • Idiomas: Inglés

Papel: Rústica
26,45 €
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Resumen

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 statistical modeling techniques, he unearths remarkable insights and some predictions--among them, that the "end of the growth era" will occur around 2050.

Resumen

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