Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    Nonlinear Dynamics of Financial Crises: How to Predict Discontinuous Decisions
    Nonlinear Dynamics of Financial Crises: How to Predict Discontinuous Decisions
    Nonlinear Dynamics of Financial Crises: How to Predict Discontinuous Decisions
    Ebook193 pages1 hour

    Nonlinear Dynamics of Financial Crises: How to Predict Discontinuous Decisions

    By Ionut Purica

    ()

    Read preview

    About this ebook

    When just a handful of economists predicted the 2008 financial crisis, people should wonder how so many well educated people with enormous datasets and computing power can be so wrong. In this short book Ionut Purica joins a growing number of economists who explore the failings of mainstream economics and propose solutions developed in other disciplines, such as sociology and evolutionary biology. While it might be premature to call for a revolution, Dr. Purica echoes John Maynard Keynes in believing that economic ideas are "dangerous for good or evil." In recent years evil seems to have had the upper hand. "Nonlinear Dynamics of Financial Crises" points to their ability to do good.

    • Makes complex economics ideas accessible by carefully explaining technical terms and minimizing mathematics and equations
    • Delivers easily-understood perspectives about the global economy by constructing broad assumptions and conclusions in the face of its infinitely complexity
    • Challenges received economic ideas by focusing on human behavior and the roles it plays in easily-observable recent trends and events
    LanguageEnglish
    PublisherAcademic Press
    Release dateMar 28, 2015
    ISBN9780128032763
    Nonlinear Dynamics of Financial Crises: How to Predict Discontinuous Decisions
    Author

    Ionut Purica

    Prof.Ionut Purica is a corresponding member of the Academy of Romanian Scientists (AOSR), and a senior researcher in econophysics. He had worked in the World Bank, ENEA Rome and ICTP Trieste, Italy and RENEL Romania developing nonlinear models for energy systems development and economic decisions. He holds two PhDs: one in energy systems and the other in economics.

    Related to Nonlinear Dynamics of Financial Crises

    Related ebooks

    Banks & Banking For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      How To Spot A Financial Bubble

      Oct 2, 2020

      one of the most influential mathematicians of all time, Sir Isaac Newton, lost a fortune by investing in the South Sea Bubble of 1720. When asked why, with all his mathematical prowess, he could not foresee the collapse of the stock, he is reputed to

      3 min read

    • Article

      How To Thrive In Radical Uncertainty

      Jul 31, 2023

      How To Thrive In Radical Uncertainty
      6 min read

    • Article

      Preparing for covid-29

      Sep 1, 2021

      Preparing for covid-29
      12 min read

    • Article

      How Your Mood Affects Your Investments

      May 1, 2017

      In your research, you have found that investor risk appetites vary by season. How so? As daylight becomes less abundant in the fall and winter months, our moods respond accordingly. Many people can identify with the notion of ‘winter blues’; but at a

      6 min read

    • Article

      Integrative Intelligence For A TRUST-BASED Worldview For Business

      Sep 20, 2018

      Trust forms the bedrock of any business and can be seen as the fundamental currency of all human activity. The nurturing of trust is key to risk management, innovativeness and economic progress. Businesses benefit from several types of intelligence,

      7 min read

    • Article

      A Framework For Risk Governance

      Oct 2, 2023

      A Framework For Risk Governance
      11 min read

    • Article

      Introduction: Symposium On Polycentric Systems In A Free Society

      Sep 1, 2020

      A polycentric system is one where there are numerous decision-making units, each with autonomy in action, operating within a shared set of rules. A polycentric order stands in contrast to a monocentric order, where there is a single centralized decis

      7 min read

    • Article

      Opinion: Hospital Mergers Or Acquisitions May Cause Short-term Patient Safety Issues

      Jul 31, 2018

      "Better patient care" is the reason usually given for hospital and health systems mergers. That doesn't always happen at the start.

      4 min read

    • Article

      Roundup: Biden Administration Revamps Procedures for Reviewing Regulations

      Jan 26, 2024

      Science Network blogger Liz Borkowski provides a roundup of scientific integrity news from the past few months.

      5 min read

    • Article

      Lessons From The ‘Wolves Of Groote Schuur’

      May 15, 2020

      why is it that doctors have not yet earned the title “The Wolves of Groote Schuur”? Is the differentiating element the perception of care? Financial advice seems to be geared towards those that have money; and if you do not, then the profession has l

      3 min read

    • Article

      Just When You Think You Understand Risk …

      May 28, 2021

      this week I was asked to teach a workshop on “risk” to a group of graduate students in portfolio management. I was probably right to be concerned. I was about to walk into their classroom and blow apart everything that their highly-rated textbook (an

      3 min read

    • Article

      The Trust Revolution: How the Digitalization of Trust Will Revolutionize Business and Government

      Jul 1, 2020

      By M. Todd Henderson and Salen Churi New York: Cambridge University Press, 2019. Pp. xvii, 215. $29.99 paperback. The Trust Revolution provides an account of the role that trust plays in improving human conditions and of how technology can shape that

      6 min read

    Related categories

    Reviews for Nonlinear Dynamics of Financial Crises

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      Nonlinear Dynamics of Financial Crises - Ionut Purica

      book.

      Chapter 1

      Introduction

      Keywords

      Limits; crises; complex behavior

      This chapter reviews some ideas on limits, crises, complex behavior, and local versus global perception that serve to create the necessary state of mind (memes in Dawkins terminology) to make the reader curious about the rest of the book.

      In November 1997 the financial crisis of that time had already started in Mexico and the Asian Tigers were having problems. Moreover, Russia was entering the crisis situation too. The bifurcation related to the change from one state to the other—in the case of stock exchange, from sell to buy is an indication of a change in the traders’ collective behavior that is triggered by small changes of perceived parameters’ evolution. The euphoria of a seemingly endless exponential growth of some financial instruments is replaced suddenly by the sorrow of a saturation followed by abandoning the allocation of money to some instruments and the shift toward others.

      There is an important message here that is the fact that people have in their minds some given states and external information is almost unconsciously interpreted as either going toward one or the other, without anything in between. This behavior is produced by some entities of the mind having similar properties with genes whose conceptualization had been done by Dawkins who also coined the name meme for

      Enjoying the preview?
      Page 1 of 1