The acceleration of the number of traders buying into the m… - Didier Sornette

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The acceleration of the number of traders buying into the market in the inflating bubble captures the oft-quoted observation that bubbles are times when the "greater fool theory" applies.

Didier Sornette

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About Didier Sornette

Didier Sornette (born 25 June 1957) is Professor on the Chair of Entrepreneurial Risks at Swiss Federal Institute of Technology Zurich (ETH Zurich). He is also a professor of the Swiss Finance Institute, a professor associated with both the department of Physics and the department of Earth Sciences at ETH Zurich.

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Additional quotes by Didier Sornette

The assumption of perfectly rational, maximizing behavior won out until recently in the art of modeling, not because it often reflects reality, but because it was useful.

The point is that humans are rarely at their best when they use rational reasoning.

One trader's move in the market can be interpreted by another trader as relevant additional information due to the uncertainty he faces.

The acceleration of the number of traders buying into the market in the inflating bubble captures the oft-quoted observation that bubbles are times w… - Didier Sornette

About Didier Sornette

Additional quotes by Didier Sornette