Work detail

Structure of the Invisible Hand: Hierarchy and Others

Author: Bc. Aleš Vondra
Year: 2013 - summer
Leaders: prof. PhDr. Ladislav Krištoufek Ph.D.
Consultants:
Work type: Bachelors
Language: English
Pages: 44
Awards and prizes:
Link:
Abstract: This thesis explores theoretical underpinnings of one particular branch of current thought
on financial market crashes. It is focused on stock markets, but the theory is applicable
to forex and commodity markets as well. Through discovery of log-periodic precursors
found in stock market prices in advance of almost all major crashes, we are led to search
for possible abstract mechanisms leading to this phenomenon. Most prominent of these
mechanisms is discrete scale invariance, which in turn is hallmark of hierarchical structure
of underlying network.
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