Detecting criticality in complex univariate time-series: A case study of the U.S. housing market crisis and other markets

The indices of asset markets are a key measure of an asset’s value and how this varies over time. However, these indices are known to switch abruptly between qualitatively different behavioural epochs underscoring the complexity of collective decision-making in large, interacting populations of economic agents. A central question in the study of index dynamics is how to represent these transitions in a way that allows for both equilibrium and non-equilibrium behaviour in a