A mechanism leading from bubbles to cras
β
Taisei Kaizoji; Michiyo Kaizoji
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Article
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2004
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Elsevier Science
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English
β 199 KB
In this study, we investigate quantitatively statistical properties of a ensemble of land prices in Japan in the period from 1981 to 2002, corresponding to a period of bubbles and crashes. We found that the tail of the complementary cumulative distribution function of the ensemble of land prices in