Models Behaving Badly is popular PDF and ePub book, written by Emanuel Derman in 2011-10-25, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Models Behaving Badly can be Read Online from any device for your convenience.
Models Behaving Badly Book PDF Summary
Now in paperback, “a compelling, accessible, and provocative piece of work that forces us to question many of our assumptions” (Gillian Tett, author of Fool’s Gold). Quants, physicists working on Wall Street as quantitative analysts, have been widely blamed for triggering financial crises with their complex mathematical models. Their formulas were meant to allow Wall Street to prosper without risk. But in this penetrating insider’s look at the recent economic collapse, Emanuel Derman—former head quant at Goldman Sachs—explains the collision between mathematical modeling and economics and what makes financial models so dangerous. Though such models imitate the style of physics and employ the language of mathematics, theories in physics aim for a description of reality—but in finance, models can shoot only for a very limited approximation of reality. Derman uses his firsthand experience in financial theory and practice to explain the complicated tangles that have paralyzed the economy. Models.Behaving.Badly. exposes Wall Street’s love affair with models, and shows us why nobody will ever be able to write a model that can encapsulate human behavior.
Detail Book of Models Behaving Badly PDF
- Author : Emanuel Derman
- Release : 25 October 2011
- Publisher : Simon and Schuster
- ISBN : 9781439165010
- Genre : Business & Economics
- Total Page : 242 pages
- Language : English
- PDF File Size : 18,9 Mb
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