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ISBNs | 978-5-04-091160-8 |
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The weight | 0,611 kg |
Size | 162 × 235 mm |
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€14,99
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The economic theory of the last centuries is bursting at the seams. None of its models can be used today to predict crises. In 2007, the IMF predicted a bright future for the global economy, but in 2008, turbulent times came. The reason for "scientific blindness" is simple: no one takes into account the nature of people. Scientific models work only as long as all the supposed participants in the process - consumers, companies, governments - act "like a damned robot." But the economy is a complex mechanism, the movement of which depends on an infinite number of human decisions. Richard Bookstaber proposes a revolutionary agent-based approach. It takes into account the consequences of our interaction with the outside world and its impact on us. The agent-based economy is ready to face reality — effectively predict economic crises and prevent them!
Richard Bookstaber is a former risk manager at investment banks Morgan Stanley, Salomon Brothers and a number of hedge funds including Ray Dalio's Bridgewater. He currently serves as Chief Risk Officer at the University of California, where he oversees a $120 billion investment portfolio.