FRACTAL STRUCTURE AND FINANCIAL PSYCHOLOGY IN STOCK MARKETS – THE ELLIOTT WAVE PRINCIPLE.
Abstract
The purpose of this article is to clarify the characteristics of a particular
field of financial psychology - namely, the Elliott Wave Principle, which after that are
evaluated in terms of the categories and concepts used by economic theory. The analysis
shows that economic theory does not have the tools to confirm or deny its validity. In this
sense, the Elliott wave principle should be used by understanding rather than an
unconditional truth.
References
2 За разлика от Елиът, Манделброт достига в своите изследвания до заключението, че финансовите пазари
наподобяват по-скоро непределени фрактални структури. Виж Mandelbrot, B., „The Fractal Geometry of Nature.“
New York: W.H. Freeman, 1988.; Mandelbrot, B., "The Variation of Certain Speculative Prices", The Journal of Business,
Vol. 36, No. 4, 1963, pp. 394 - 419.
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