WHY STOCK MARKETS CRASH

@inproceedings{Sornette2003WHYSM,
  title={WHY STOCK MARKETS CRASH},
  author={Didier Sornette},
  year={2003}
}
The young science of complexity, which studies systems as diverse as the human body, the earth and the universe, offers novel insights on the question raised in the title. The science of complexity explains large-scale collective behavior, such as well-functioning capitalistic markets, and also predicts that financial crashes and depressions are intrinsic properties resulting from the repeated nonlinear interactions between investors. Applying concepts and methods from complex theory and… Expand
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