Emanuel Derman was a quantitative analyst (Quant) at Goldman Sachs, one of the financial engineers whose mathematical models became crucial for Wall Street. Here, he describes his experiences as a physicist on Wall Street, the models quants generated, the benefits they brought a…
Quants, physicists working on Wall street as quantitative analysts, have been widely blamed for triggering the recent financial crises with their complex mathematical models. Their formulas were meant to allow Wall street to prosper without risk. So what made these models so dan…
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"Browse a bookstore's philosophy section and you will find hefty tomes devoted to the analysis of single concepts such as friendship, authenticity, guilt, power, morality, freedom, and evil. Scholars wrestle with the precise meaning of these concepts because they are inherently …
This book explores the possibility that people understand abstract social concepts using metaphor, which from this perspective is not simply a matter of words. Rather, it is a cognitive tool that people routinely use to understand abstract concepts (such as morality) in terms of…