Didier Sornette is Professor of Entrepreneurial Risks in the Department of Management, Technology and Economics at the Swiss Federal Institute of Technology (ETH Zurich) and a Professor of Finance at the Swiss Finance Institute. He is the author of 500+ research papers and 7 books. His research focuses on the prediction of crises and extreme events in complex systems and in particular of financial bubbles and crashes and the diagnostic of systemic instabilities. In 2008, he launched the Financial Crisis Observatory to test the hypothesis that financial bubbles can be diagnosed in real-time and that their termination can be predicted probabilistically.
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It is commonly overlooked that the concept of market efficiency embowers a time-dimension. Illustrating with an example from the class of persistent random walks, we show that a price process can be a martingale on one time-scale but inefficient on another.
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The Economics of Post-Factual Democracy
Debating bubbles and the implication of the post-truth phenomena and expertise on modern democracies
Young Scholars from the YSI working groups on Innovation, Complexity Economics, Philosophy of Economics and Financial Stability will present their research at a one-day workshop following The Economics of Post-Factual Democracy conference in Copenhagen, Denmark.