“These rumors do not circulate in all directions, but essentially from the top to the bottom of society. The rather sophisticated presentations, the apparently serious references that seem to justify their origins, and their distinguished proponents provide food for amplifications serving diverse interests and psychological biases in all layers of society.”

Source: Why Stock Markets Crash - Critical Events in Complex Systems (2003), Chapter 4, Positive Feedbacks, p. 110.

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Didier Sornette27

French scientist 1957

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