{"product_id":"patterns-in-the-dark-understanding-risk-and-financial-crisis-with-complexity-theory-wiley-investment-9780471239475","title":"Patterns in the Dark Understanding Risk and","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\"A fascinating account of one of today's great paradoxes: The irreducible uncertainty that lies at the heart of social and economic order. A perfectly efficient market could not possibly work. Uncertainty reduces risk. Ed Peters takes our most cherished beliefs, tuns them upside down, and convinces us that they're much better that way.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTrade Review\u003c\/b\u003e\u003cbr\u003eEdgar E. Peters's latest book, Patterns in the Dark: Understanding Risk and Financial Crisis with Complexity Theory is not merely an autobiographical indulgence. The bulk of the book is Peters's lucent analysis expounding on the need for uncertainty. Whether he uses the example of genetic algorithms to show how randomness can lead a process to a goal even when the ultimate path is unknown, or if he simply shows how David Bowie's creation of Ziggie Stardust illustrates the integration of two seemingly contrary elements in the creative process (with a nod toward uncertainty as a requirement for stability), Peters's always seems to provide compelling insight into how global structure and local randomness interact.\u003cbr\u003e \u003cbr\u003e Edgar E. Peters's latest book, Patterns in the Dark: Understanding Risk and Financial Crisis with Complexity Theory is not merely an autobiographical indulgence. The bulk of the book is Peters's lucent analysis expounding on the need for uncertainty. Whether he uses the example of genetic algorithms to show how randomness can lead a process to a goal even when the ultimate path is unknown, or if he simply shows how David Bowie's creation of Ziggie Stardust illustrates the integration of two seemingly contrary elements in the creative process (with a nod toward uncertainty as a requirement for stability), Peters's always seems to provide compelling insight into how global structure and local randomness interact.\u003cbr\u003e \u003cbr\u003e Ultimately, the book's implications for \"global structure\" policymakers are more clear than any prescriptions that might be handed down to individual investors acting in an environment of local randomness. However, the discussions regarding various process models and their implications for economic activity are worth the price of admission alone. Interested investors ought to check it out.--(\"Fool On The Hill - An Investment Opinion\" by Alex Schay - June 1999)\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003eIntroduction: Life, Risk, and Uncertainty.\u003cbr\u003e \u003cbr\u003e UNCERTAINTY, COMPLEXITY, AND SPONTANEOUS ORGANIZATION.\u003cbr\u003e \u003cbr\u003e Imposing Order: Conspiracies and the Mathematics of Ignorance.\u003cbr\u003e \u003cbr\u003e Uncertainty, Vagueness, and Ambiguity: The Need for Information.\u003cbr\u003e \u003cbr\u003e Complexity and Time: The Dynamics of Uncertainty.\u003cbr\u003e \u003cbr\u003e FREE MARKETS AND THE NEED FOR UNCERTAINTY.\u003cbr\u003e \u003cbr\u003e Subjectivism: \"The Economics of Time and Ignorance.\"\u003cbr\u003e \u003cbr\u003e Diversity and Knowledge.\u003cbr\u003e \u003cbr\u003e Crisis and Competition: Creative Destruction in Free Markets.\u003cbr\u003e \u003cbr\u003e Economic Evolution: Change in Real Time.\u003cbr\u003e \u003cbr\u003e Creativity: Uncertainty, Innovation, and Entrepreneurs.\u003cbr\u003e \u003cbr\u003e Rules and Law: Limits in Complexity.\u003cbr\u003e \u003cbr\u003e Degrees of Order: Balancing Rules, Freedom, and Uncertainty.\u003cbr\u003e \u003cbr\u003e The Need for Uncertainty.\u003cbr\u003e \u003cbr\u003e References.\u003cbr\u003e \u003cbr\u003e Index.","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49402533577047,"sku":"9780471239475","price":36.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9780471239475.jpg?v=1730480698","url":"https:\/\/bookcurl.com\/products\/patterns-in-the-dark-understanding-risk-and-financial-crisis-with-complexity-theory-wiley-investment-9780471239475","provider":"Book Curl","version":"1.0","type":"link"}