DISCRETE SCALE INVARIANCE IN STOCK MARKETS BEFORE CRASHES

作者： JAMES A. FEIGENBAUM , PETER G.O. FREUND

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摘要: We propose a picture of stock market crashes as critical points in system with discrete scale invariance. The exponent is then complex, leading to log-periodic fluctuations indexes. present “experimental” evidence favor this prediction. This the spirit known earthquake-stock analogy and recent work on associated earthquakes.