By Dion Harmon, Marcus A. M. de Aguiar, David D. Chinellato, Dan Braha, Irving R. Epstein, Yaneer Bar-Yam
Abstract
Predicting panic is of critical importance in many areas of human and animal behavior, notably in the context of economics. The recent financial crisis is a case in point. Panic may be due to a specific external threat, or self-generated nervousness. Here we show that the recent economic crisis and earlier large single-day panics were preceded by extended periods of high levels of market mimicry --- direct evidence of uncertainty and nervousness, and of the comparatively weak influence of external news. High levels of mimicry can be a quite general indicator of the potential for self-organized crises.
Update: You can read some commentary about this paper over at PhysOrg
This programme explores the complexity and diversity of business in an increasingly interconnected world. Students will engage in critical analysis of international business and investigate the international context of business today. Drawing on current University of Greenwich research and international academic theory, there is a strong emphasis on real-life case studies and professional management application. This MA will help students to develop skills in assessing the global environment for business, identifying new international business opportunities and analysing international markets and industries. The programme provides students who may not have a first degree in business with a grounding in business management, followed by specialised international business courses.Finance Focus
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