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Self-Referred Decision Rules and Chaos

Author

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  • Anne Corcos

    (CURAPP-ESS - Centre universitaire de recherches sur l'action publique et le politique. Epistémologie et Sciences sociales - UMR CNRS 7319 - UPJV - Université de Picardie Jules Verne - CNRS - Centre National de la Recherche Scientifique)

  • Jean-Pierre Eckmann

    (Departement de Physique Théorique [Genève] - UNIGE - Université de Genève = University of Geneva)

  • A. Malaspinas

    (Section de mathématiques [Genève] - UNIGE - Université de Genève = University of Geneva)

Abstract

The stock market crash of October 1987 has drawn widespread attention which has focused on the role played by mimetic behavior-that is, self-referred decision rules-on market prices. The aim of this paper is to present a model which takes into account the effects of collective opinions. The presence of mimetic behavior for the determination of prices has of course been studied earlier-Arthur (1987),

Suggested Citation

  • Anne Corcos & Jean-Pierre Eckmann & A. Malaspinas, 2022. "Self-Referred Decision Rules and Chaos," Working Papers hal-03833847, HAL.
    • Handle: RePEc:hal:wpaper:hal-03833847
    Note: View the original document on HAL open archive server: https://hal.science/hal-03833847
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    References listed on IDEAS

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    6. Bollerslev, Tim, 1987. "A Conditionally Heteroskedastic Time Series Model for Speculative Prices and Rates of Return," The Review of Economics and Statistics, MIT Press, vol. 69(3), pages 542-547, August.
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