{"paper":{"title":"Market Crashes as Critical Phenomena? Explanation, Idealization, and Universality in Econophysics","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","headline":"","cross_cats":["q-fin.EC","q-fin.RM"],"primary_cat":"physics.hist-ph","authors_text":"James Owen Weatherall, Jennifer Jhun, Patricia Palacios","submitted_at":"2017-04-07T22:36:38Z","abstract_excerpt":"We study the Johansen-Ledoit-Sornette (JLS) model of financial market crashes (Johansen, Ledoit, and Sornette [2000] \"Crashes as Critical Points.\" Int. J. Theor. Appl. Finan. 3(2) 219-255). On our view, the JLS model is a curious case from the perspective of the recent philosophy of science literature, as it is naturally construed as a \"minimal model\" in the sense of Batterman and Rice (Batterman and Rice [2014] \"Minimal Model Explanations.\" Phil. Sci. 81(3): 349-376) that nonetheless provides a causal explanation of market crashes, in the sense of Woodward's interventionist account of causati"},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1704.02392","kind":"arxiv","version":1},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"}