Models.Behaving.Badly.: Why Confusing Illusion with Reality Can Lead to Disaster, on Wall Street and in Life
Emanuel Dermanamazon.com
Models.Behaving.Badly.: Why Confusing Illusion with Reality Can Lead to Disaster, on Wall Street and in Life
Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets
amazon.com
The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction
amazon.com
Look at any business, talk to anyone you know, and you will see prudent, thoughtful actors. But look at the sum total of their actions, and sometimes it will seem without rhyme or reason, bordering on chaos. The sum of individually rational actions can be the genesis of a crisis.