Jump to ContentJump to Main Navigation
Financial Market Complexity
Users without a subscription are not able to see the full content.

Financial Market Complexity

Neil F. Johnson, Paul Jefferies, and Pak Ming Hui

Abstract

Financial markets provide a fascinating example of ‘complexity in action’: a real-world complex system whose evolution is dictated by the decisions of crowds of traders who are continually trying to win in a vast global ‘game’. This book draws on recent ideas from the highly-topical science of complexity and complex systems to address the following questions: how do financial markets behave? Why do financial markets behave in the way that they do? What can we do to minimize risk, given this behavior? Standard finance theory is built around several seemingly innocuous assumptions about market d ... More

Keywords: financial markets, complex systems, market dynamics, financial risk, market microstructure, crashes, pricing derivatives

Bibliographic Information

Print publication date: 2003 Print ISBN-13: 9780198526650
Published to Oxford Scholarship Online: January 2010 DOI:10.1093/acprof:oso/9780198526650.001.0001

Authors

Affiliations are at time of print publication.

Neil F. Johnson, author
Oxford University; also co-Director of Oxford Centre for Computational Finance at Oxford University

Paul Jefferies, author
OXAM Asset Management Company

Pak Ming Hui, author
Chinese University of Hong Kong