1. – Assistant Manager (financial Services Analytics), Genpact, Kolkata, West Bengal, India.
| Received
06-Aug-2015 |
Accepted
- |
Published
06-Aug-2015 |
Abstract
This present work provides a deterministic description irrational and semi-rational bubbles based on the stylized description forwarded by Hyman Minsky (1972), Day and Huang (1990) respectively. The paper emphasizes on two areas: First, it proposes a mathematical representation of an irrational bubble using piece-wise linear maps in a discrete time frame. Second, it studies the chaotic signals generated by them to explain the instability in asset price bubbles and explains the factors which impact their longevity.
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