Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

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. Sornette probes major historical precedents, from the decades-long "tulip mania" in the Netherlands that wilted suddenly in 1637 to the South Sea Bubble that ended with the first huge market crash in England in 1720, to the Great Crash of October 1929 and Black Monday in 1987, to cite just a few. He concludes that most explanations other than cooperative self-organization fail to account for the subtle bubbles by which the markets lay the groundwork for catastrophe. Any investor or investment professional who seeks a genuine understanding of looming financial disasters should read this book. Physicists, geologists, biologists, economists, and others will welcome Why Stock Markets Crash as a highly original "scientific tale," as Sornette aptly puts it, of the exciting and sometimes fearsome--but no longer quite so unfathomable--world of stock markets. Some images inside the book are unavailable due to digital copyright restrictions.

Stock exchanges --- Stocks --- Financial crises --- Complexity (Philosophy) --- Critical phenomena (Physics) --- History --- Prices --- -Stocks --- -Financial crises --- -Stock exchanges --- -Critical phenomena (Physics) --- 332.63222 --- Philosophy --- Emergence (Philosophy) --- Phenomena, Critical (Physics) --- Physics --- Bulls and bears --- Commercial corners --- Corners, Commercial --- Equity markets --- Exchanges, Securities --- Exchanges, Stock --- Securities exchanges --- Stock-exchange --- Stock markets --- Capital market --- Efficient market theory --- Speculation --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Business cycles --- Common shares --- Common stocks --- Equities --- Equity capital --- Equity financing --- Shares of stock --- Stock issues --- Stock offerings --- Stock trading --- Trading, Stock --- Securities --- Bonds --- Corporations --- Going public (Securities) --- Stock repurchasing --- Stockholders --- -History --- History. --- Phénomène critique (Physique) --- Phénomène critique (Physique) --- Critical phenomena (Physics). --- Stock exchanges. --- Forecasting. --- Mathematical models. --- Crises financières --- Bourse --- Histoire --- Modèles mathématiques --- Prévision --- Stock exchanges - United States - History --- Stocks - Prices - History --- Financial crises - United States - History --- Financial crises - History

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Physical and biological systems driven out of equilibrium may spontaneously evolve to form spatial structures. In some systems molecular constituents may self-assemble to produce complex ordered structures. This book describes how such pattern formation processes occur and how they can be modeled. Experimental observations are used to introduce the diverse systems and phenomena leading to pattern formation. The physical origins of various spatial structures are discussed, and models for their formation are constructed. In contrast to many treatments, pattern-forming processes in nonequilibrium systems are treated in a coherent fashion. The book shows how near-equilibrium and far-from-equilibrium modeling concepts are often combined to describe physical systems. This inter-disciplinary book can form the basis of graduate courses in pattern formation and self-assembly. It is a useful reference for graduate students and researchers in a number of disciplines, including condensed matter science, nonequilibrium statistical mechanics, nonlinear dynamics, chemical biophysics, materials science, and engineering.

Pattern formation (Physical sciences) --- Phase rule and equilibrium. --- Dynamics. --- Formation des structures (Sciences physiques) --- Loi des phases et équilibre --- Dynamique --- Phase rule and equilibrium --- Dynamics --- Loi des phases et équilibre --- Dynamical systems --- Kinetics --- Mathematics --- Mechanics, Analytic --- Force and energy --- Mechanics --- Physics --- Statics --- Chemistry, Physical and theoretical --- Critical phenomena (Physics) --- Equilibrium --- Chemical equilibrium --- Chemical systems --- Critical point --- Chaotic behavior in systems

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The study of firm creation is becoming a focal point of business research, education, practice, and policymaking. Currently, it is estimated that 12 million people in the United States are involved in business start-ups; the phenomenon is embedded in the American culture—and in many others around the world. The Panel Study of Entrepreneurial Dynamics (PSED) research program is designed to enhance the scientific understanding of how people start businesses, by gathering and providing primary data on the business creation process. The first data collection (PSED I) was initiated in 1998 and three follow-up surveys were completed by 2004. The second (PSED II), supported by the Ewing Marion Kauffman Foundation, the U.S. Small Business Administration, and the National Science Foundation, was initiated in 2005. Harmonized projects have been implemented in seven other countries. This volume, including contributions from the organizers and advisory committee members, presents assessments based on the initial and first follow-up PSED II data; two more follow-ups are in process. The book highlights key implications and applications and includes chapters covering entrepreneurial behavior, demographic and gender factors, financing the emerging business, ownership arrangements, and the roles of social capital and technology. Other assessments focus on the nature of those active as nascent entrepreneurs, the activities undertaken during the start-up process, and the characteristics of start-up efforts that become new firms; the appendix provides a detailed discussion of the data collection procedures. The result is an introduction to the theories, conceptualizations, approaches, and measurement of the business creation process. This book will be a valuable guide for those interested in business creation for research or policy objectives.

Duality theory (Mathematics). --- Entrepreneurship --Psychological aspects. --- New business enterprises --United States. --- Von Neumann algebras --Crossed products. --- New business enterprises --- Entrepreneurship --- Management Styles & Communication --- Economic Theory --- Management --- Business & Economics --- Psychological aspects --- Business starts --- Development stage enterprises --- How to start a business --- New companies --- Start-up business enterprises --- Start-up companies --- Start-ups (Business enterprises) --- Starting a business --- Startups (Business enterprises) --- 531.19 <063> --- 536.75 <063> --- Statistical mechanics--Congressen --- Entropy. Statistical thermodynamics. Irreversible processes--Congressen --- Renormalization group --- 536.75 <063> Entropy. Statistical thermodynamics. Irreversible processes--Congressen --- 531.19 <063> Statistical mechanics--Congressen --- Business. --- Management science. --- Entrepreneurship. --- Industrial psychology. --- Business and Management. --- Business and Management, general. --- Industrial, Organisational and Economic Psychology. --- 536 --- 536 Heat. Thermodynamics --- Heat. Thermodynamics --- 512 --- 512 Algebra --- Algebra --- Statistical physics --- Analytical spaces --- Business enterprises --- Business incubators --- Von Neumann algebras --- Psychological aspects. --- Crossed products. --- Critical phenomena (Physics) --- Congresses. --- Congresses --- Applied psychology. --- Industrial and Organizational Psychology. --- Applied psychology --- Psychagogy --- Psychology, Practical --- Social psychotechnics --- Psychology --- Trade --- Economics --- Commerce --- Industrial management --- Entrepreneur --- Intrapreneur --- Capitalism --- Business psychology --- Industrial psychology --- Psychotechnics --- Industrial engineering --- Personnel management --- Psychology, Applied --- Industrial psychologists --- Quantitative business analysis --- Problem solving --- Operations research --- Statistical decision --- Hydrodynamics. --- Critical phenomena (Physics) - Congresses --- Renormalization group - Congresses --- Critical phenomena --- Phase transformations (statistical physics) --- Algebres topologiques --- Algebres de von neumann