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Theory of Stock Exchange Crashes

  • Johannes Voit
Chapter
  • 567 Downloads
Part of the Texts and Monographs in Physics book series (TMP)

Abstract

Crashes of stock exchanges, and speculative markets more generally, have occurred ever since trading securities and commodities has become an important activity. A historical example is the “tulipmania”, the rise and subsequent crash of prices for tulip bulbs on Dutch commodity markets in 1637 [199, 200], or the South Sea bubble in England, where Newton lost much of his fortune, cf. Chap. 1. Modern financial crashes are discussed below. Since in such events enormous fortunes are at stake, efforts towards an improved understanding are mandatory.

Keywords

Stock Index Asian Crisis Richter Scale Interest Rate Spread Market Shock 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2003

Authors and Affiliations

  • Johannes Voit
    • 1
  1. 1.Deutscher Sparkassen- und GiroverbandBonnGermany

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