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...
The main objective of this book is to show that behind the bewildering diversity of historical speculative episodes, it is possible to find hidden reg...
What are the roots of the present economic crisis? The book shows that the factors commonly mentioned (e. g. subprime loans, fall in housing prices) have occurred in the past and therefore cannot account for the severity of the present crisis. There must be "something else." The analysis shows that there was a "phase transition" in the United States around 1975 which brought the following changes: - The stagnation of real wages over the past 30 years and a parallel rise in indebtment levels. - The abrupt fall in unionization rates and in the number of strikes. - The development of tax...
What are the roots of the present economic crisis? The book shows that the factors commonly mentioned (e. g. subprime loans, fall in housing prices...
Book titles, because they are compromises between concision and precision, provide but an approximate description of real content. For this book an al ternative and more comprehensive title would be: An investigation of spatial arbitrage as an introduction to the theory of commodity markets: trade and space-time patterns of price fluctuations. In this title, both the specificities and the limitations of our approach are emphasized. Firstly, our approach con centrates on the basic mechanisms of spatial arbitrage, leaving aside a number of accessory facets of international trade such as the...
Book titles, because they are compromises between concision and precision, provide but an approximate description of real content. For this book an al...
This book was first published in 2007. In recent years network science has become a dynamic and promising discipline; here it is extended to explore social and historical phenomena. While we experience social interactions every day, there is little quantitative knowledge on them. Instead we are often tempted to resort to fanciful explanations to explain social trends. Exogenous and endogenous interactions are often the key to understanding social phenomena and unravelling historical mysteries. This book begins by explaining how it is possible to bridge the gap between physics and sociology by...
This book was first published in 2007. In recent years network science has become a dynamic and promising discipline; here it is extended to explore s...
