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Next Dates: - Introduction to QuantLib Development with Luigi Ballabio, September 2 - 4, 2013 - £1700

 


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Complexity and the madness of crowds – lessons from disaster prevention

Sat, 06 Oct 2012 03:59:51 GMT

Recent debates about the crisis vulnerability of international financial networks indicate that in economics complexity is still a widely misunderstood concept. In my critique of a recent paper by Andrew Haldane  from the Bank of England I described complexity as a phenomenon rooted in markets instead of networks of institutions and in the interactions of countless individuals with different motives [...]

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