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Market crashes as critical phenomena? Explanation, idealization, and universality in econophysics.

We study the Johansen-Ledoit-Sornette (JLS) model of financial market crashes (Johansen et al. in Int J Theor Appl Financ 3(2):219-255, 2000). On our view, the JLS model is a curious case from the perspective of the recent philosophy of science literature, as it is naturally construed as a “minimal...

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Published in:Synthese Vol. 195; no. 10; pp. 4477 - 4506
Main Authors: Jhun, Jennifer, Palacios, Patricia, Weatherall, James Owen
Format: Article
Published: Springer Nature Oct2018
Subjects:
Financial crises
Néron models
Econophysics
Universalism (Philosophy)
Explanation
Online Access:View this record in EBSCOhost

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