Crowd Psychology and the Complexity of the Security Market

The security market is a complex system. To explore the mechanism of complexity of the security market helps people understand the dynamics and the nature of its development, so as to better adapt to, regulate and control the security market. In terms of the science of complexity, investors＇ crowd psychology results in the complexity of the security market. This paper first confirms the existence of a crowd with empirical evidence gathered from the security market, then empirically demonstrates the existence of crowd psychology with a questionnaire, and finally analyses the influence of crowd psychology on the security market from the two angles of the correlation persistence and system evolution.

Crowd Psychology and the Complexity of the Security Market