Coverart for item
The Resource The end of theory : financial crises, the failure of economics, and the sweep of human interaction, Richard Bookstaber

The end of theory : financial crises, the failure of economics, and the sweep of human interaction, Richard Bookstaber

Label
The end of theory : financial crises, the failure of economics, and the sweep of human interaction
Title
The end of theory
Title remainder
financial crises, the failure of economics, and the sweep of human interaction
Statement of responsibility
Richard Bookstaber
Creator
Author
Subject
Genre
Language
eng
Summary
Our economy may have recovered from the Great Recession--but not our economics. In The End of Theory, Richard Bookstaber, one of the world's leading risk managers, discusses why the human condition and the radical uncertainty of our world renders the standard economic model--and the theory behind it--useless for dealing with financial crises. What model should replace it? None. At least not any version we've been using for the past two hundred years. Instead, Bookstaber argues for a new approach called agent-based economics, one that takes as a starting point the fact that we are humans, not the optimizing automatons that standard economics assumes we are. Bookstaber's groundbreaking paradigm promises to do a far better job at preventing crises and managing those that break out. As he explains, our varied memories and imaginations color our economic behavior in unexpected hues. Agent-based modeling embraces these nuances by avoiding the mechanistic, unrealistic structure of our current economic approach. Bookstaber tackles issues such as radical uncertainty, when circumstances take place beyond our anticipation, and emergence, when innocent, everyday interactions combine to create sudden chaos. Starting with the realization that future crises cannot be predicted by the past, he proposes an approach that recognizes the human narrative while addressing market realities. Sweeping aside the historic failure of twentieth-century economics, The End of Theory offers a novel and innovative perspective, along with a more realistic and human framework, to help prevent today's financial system from blowing up again
Cataloging source
IDEBK
http://library.link/vocab/creatorDate
1950-
http://library.link/vocab/creatorName
Bookstaber, Richard M.
Index
index present
Language note
In English
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/subjectName
  • Financial crises
  • Business failures
  • Social interaction
  • BUSINESS & ECONOMICS
  • BUSINESS & ECONOMICS
  • BUSINESS & ECONOMICS
  • Business failures
  • Financial crises
  • Social interaction
  • Great Britain
  • Finanzkrise
Label
The end of theory : financial crises, the failure of economics, and the sweep of human interaction, Richard Bookstaber
Instantiates
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Crises and sunspots -- Being human -- Social interactions and computational irreducibility -- the individual and the human wave : emergent phenomena -- Context and ergodicity -- Human experience and radical uncertainty -- Heuristics : how to act like a human -- Economics in crisis -- Agent-based models -- Agents in the complexity spectrum -- The structure of the financial system : agents and the environment -- Liquidity and crashes -- The 2008 crisis with an agent-based view -- Is it a number or a story? Model as narrative
Control code
ocn974518875
Dimensions
unknown
Extent
1 online resource
Form of item
online
Isbn
9780691169019
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
JSTOR
Other control number
10.1515/9781400884964
http://library.link/vocab/ext/overdrive/overdriveId
  • 995825
  • 41d393f5-b13b-44da-b177-4eca2aa30b47
  • 22573/ctvc635sw
Specific material designation
remote
System control number
(OCoLC)974518875
Label
The end of theory : financial crises, the failure of economics, and the sweep of human interaction, Richard Bookstaber
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Crises and sunspots -- Being human -- Social interactions and computational irreducibility -- the individual and the human wave : emergent phenomena -- Context and ergodicity -- Human experience and radical uncertainty -- Heuristics : how to act like a human -- Economics in crisis -- Agent-based models -- Agents in the complexity spectrum -- The structure of the financial system : agents and the environment -- Liquidity and crashes -- The 2008 crisis with an agent-based view -- Is it a number or a story? Model as narrative
Control code
ocn974518875
Dimensions
unknown
Extent
1 online resource
Form of item
online
Isbn
9780691169019
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
JSTOR
Other control number
10.1515/9781400884964
http://library.link/vocab/ext/overdrive/overdriveId
  • 995825
  • 41d393f5-b13b-44da-b177-4eca2aa30b47
  • 22573/ctvc635sw
Specific material designation
remote
System control number
(OCoLC)974518875

Library Locations

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      32.771354 -117.193327
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