Before revision:  The relative-entropy measures computed for these modes enable us to construct a "phase space", where the different market events undergo "phase-separation" and display " order-disorder " transitions, as observed in critical phenomena in physics.
After revision:  The relative-entropy measures computed for these modes enable us to construct a "phase space", where the different market events (bubbles, crashes, etc.) undergo phase separation and display order-disorder " transitions, as observed in critical phenomena in physics.