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. In The End of…
Specifikacia 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. 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. What model should replace it? None. At least not any version we've been using for the past two hundred years. 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. As he explains, our
Origin of Financial Crises