Nonlinear forecasts, rational bubbles, and martingales

  • Benoit B. Mandelbrot


Two terms are found in the title of this reprint, but not of the originals, namely, “nonlinear” and “rational bubble.” They express the two main points of this paper in words that were not available to me in 1966.


Random Walk Price Change Price Series Good Weather Crop Size 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Springer Science+Business Media New York 1997

Authors and Affiliations

  • Benoit B. Mandelbrot
    • 1
  1. 1.Mathematics DepartmentYale UniversityNew HavenUSA

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