Patterns of Speculation A Study in Observational Econophysics

Patterns of Speculation: A Study in Observational Econophysics

The main objective of this book is to show that hidden regularities lie behind the bewildering diversity of historical speculative episodes. Studying these regularities will help prepare the way for a unified theory of market speculation. By comparing stock trading with that of other commodities, the author demonstrates how the basic concepts of dynamical system theory play an instrumental role in describing and predicting speculative behavior. This book is therefore a useful introduction for students of econophysics, and gives an insight into economics as seen from the perspective of physics.

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Book Details

pages

250
published

2002
Format

PDF

Author

Bertrand M. Roehner

Book : Patterns of Speculation: A Study in Observational Econophysics

The main objective of this book is to show that behind the bewildering diversity of historical speculative episodes, it is possible to find hidden regularities. Speculative bubbles require the study of various episodes in order for a comparative perspective to be obtained and the analysis developed in this book follows a few simple but unconventional ideas. To that end, the author demonstrates how some of the basic concepts of dynamical system theory, such as the notions of impulse response, reaction times and frequency analysis, play an instrumental role in describing and predicting speculative behavior.

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