Self-Referred Decision Rules and Chaos

Anne Corcos (), Jean-Pierre Eckmann and A. Malaspinas
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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 UPJV 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

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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),

Date: 2022-10-28
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