منابع مشابه
Crashes as Critical Points
We study a rational expectation model of bubbles and crashes. The model has two components: (1) our key assumption is that a crash may be caused by local self-reinforcing imitation between noise traders. If the tendency for noise traders to imitate their nearest neighbors increases up to a certain point called the “critical” point, all noise traders may place the same order (sell) at the same t...
متن کاملCrashes as Critical
We study a rational expectation model of bubbles and crashes. The model has two components : (1) our key assumption is that a crash may be caused by local self-reinforcing imitation between noise traders. If the tendency for noise traders to imitate their nearest neighbors increases up to a certain point called the \critical" point, all noise traders may place the same order (sell) at the same ...
متن کامل71 v 1 7 O ct 1 99 8 Crashes as Critical Points
We study a rational expectation model of bubbles and crashes. The model has two components : (1) our key assumption is that a crash may be caused by local self-reinforcing imitation between noise traders. If the tendency for noise traders to imitate their nearest neighbors increases up to a certain point called the “critical” point, all noise traders may place the same order (sell) at the same ...
متن کاملv 2 1 9 O ct 1 99 8 Crashes as Critical Points
We study a rational expectation model of bubbles and crashes. The model has two components : (1) our key assumption is that a crash may be caused by local self-reinforcing imitation between noise traders. If the tendency for noise traders to imitate their nearest neighbors increases up to a certain point called the “critical” point, all noise traders may place the same order (sell) at the same ...
متن کاملCritical Crashes?
In this short note we discuss recent attempts to describe pre-crash market dynamics with analogies from theory of critical phenomena. Stochastic dynamics is a commonly used approach to describe the time evolution of financial markets. The large number of agents, their complex mutual influence and obscure decision making all of these leave the probabilistic picture as the only viable way to desc...
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ژورنال
عنوان ژورنال: International Journal of Theoretical and Applied Finance
سال: 2000
ISSN: 0219-0249,1793-6322
DOI: 10.1142/s0219024900000115