radical uncertainty. Manifesto on the nature of economic crises, their forecasting and overcoming

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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.

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Barcode: 9785040911608 SKU: 70144899 Category:
Publication language: Russian

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