Bachelier (1914) and Mandelbrot (1963): The Issue of Fat Tails

Benoît Mandelbrot’s argument in 1963 and later for the prevalence of fat-tailed distributions (“wild randomness”) was presented as a challenge to Louis Bachelier’s 1900 model of asset price movements as Brownian motion in efficient markets. There was, however, another side to Bachelier’s contributio...

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Bibliografske podrobnosti

Glavni avtor:	Dimand, Robert W.
Format:	Artigo
Jezik:	Inglês
Izdano:	Association Œconomia 2026
Teme:	Bachelier (Louis) Mandelbrot (Benoît) mouvement brownien distributions à queues épaisses Brownian motion fat-tailed distributions
Online dostop:	https://doi.org/10.4000/169qr https://hdl.handle.net/20.500.13089/169qr https://journals.openedition.org/oeconomia/19926
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