Download or read book Hidden Collective Factors in Speculative Trading written by Bertrand M. Roehner and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains a unified mathematical theory of speculation. Besides analysing stock markets, the book considers a wide range of speculative markets such as: real estate, commodities, postage-stamps, and antiquarian books. Various regularities are discussed. For instance, during a speculative episode, the price of expensive items increases more than the price of less expensive items. Such regularities pave the way for a mathematical theory of speculation. Being mainly empirical, the book is easy to read and does not require technical prerequisites in finance, economics or mathematics.