It’s not really my argument, but I’ve just found a book where it’s stated that the outcome of the mathematical models applied to the financial markets not just let us understand better their functioning but changed the rules of it.
In, An Engine, Not a Camera: How Financial Models Shape Markets, Donald Mackenzie explains his theory about how our knowledge not just was increased, but the financial markets were re-shaped inside out. He analyses how financial theory performed in both 1987 and 1998 crises. Moreover, “financial chaos” (what’s referred to as “beyond mainstream”) is looked at too.
In definite, a theory for the implications of a theory!.
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Call me a grumpy old man and I’ll tell you that but the “old” you’re right. Bloody heck!, who the hell designs car park spaces?. Do architects know anything about average car sizes?, which evil algorithm do they use to design the lay-out?… Fuck!, another mark on my car!!!.
Ok, ok, sorry architects, probably is the structural engineers that tell you where the columns have to be. All apologies!, forgive this poor grumpy young man.
Regards,
FMS
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Last month I was with a colleague in a trade fair in the US when I realised we’ve lost one of our people. Then, my mate asked what should we do. The answer I gave him was the following:
1) Let’s formulate the hypothesis about where he could be.
2) With these ones let’s formulate the probability distribution of the location (being a trade fair is quite easy, since you have the map and every section is clearly indicated) and the p.d. of finding our colleague in booth “X”.
3) Generate the search path based on the higher probabilities and carry on adjusting it as more information is gathered (i.e. he isn’t on booth “Y”). This can be done by means of Bayes theorem.
Damned! He phoned the guy! Was behind us!!!
Tags: search theory
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