Many people ask about the source for my cockroach analogy, which I go through on page 232ff in A Demon of Our Own Design. The source for this analogy is my paper with Joe Langsam in the Journal of Theoretical Biology. So I am linking to that paper here.
The argument in the paper is pretty readable if you read past the citations and the math, and it is relevant to how we construct financial markets and manage risk in those markets.
"A Demon Of Our Own Design"
"The End Of Theory"Suggested Post
Popular Posts
-
Some of the dominant policy issues of today – immigration, energy, the emergence of China – have their analogues in the great Industrial R... -
The recent scandal has brought a spotlight on the long-term issues of unfair college admissions,. Once you get past the outright criminali... -
What is wrong with passive investing and index hugging? One problem is that these strategies often use ETFs. I wrote about the potential ... -
In case you haven't noticed -- and I haven't -- we apparently are in a world of exceptionally low risk. To see this you need look n... -
I'm not going to write anything here about the huge drop in bitcoin over the last few days, so what I am writing cannot be ignored shou...