Danielsson, Jon; Shin, Hyun Song; Zigrand, Jean-Pierre - In: Annual Review of Economics 4 (2012) 1, pp. 111-129
Extreme events in financial markets are often generated by shocks that come from within the system, rather than those that arrive from outside the system. The combination of risk-sensitive behavior rules and the coordinated actions implied by market-to-market accounting can result in outcome...