The End of Theory: Financial Crises, the Fail... Richard Bookstaber
The End of Theory: Financial Crises, the Fail... Richard Bookstaber An in-depth look at how to account for the human complexities at the heart of today's financial systemOur economy may have…
Specifikacia The End of Theory: Financial Crises, the Fail... Richard Bookstaber
The End of Theory: Financial Crises, the Fail... Richard Bookstaber
An in-depth look at how to account for the human complexities at the heart of today's financial systemOur economy may have recovered from the Great Recession--but not our economics. What model should replace it? None. In The End of Theory, Richard Bookstaber discusses why the human condition and the radical uncertainty of our world renders the standard economic model--and the theory behind it--useless for dealing with financial crises.
Instead, Bookstaber argues for a new approach called agent-based economics, one that takes as a starting point the fact that we are humans, not the optimizing automatons that standard economics assumes we are.Bookstaber's groundbreaking paradigm promises to do a far better job at preventing crises and managing those that break out. At least not any version we've been using for the past two hundred years. As he explains, our
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