Models. Behaving. Badly. Why Confusing Illusion with Reality Can Lead to Disaster, on Wall Street and in Life
Автор: Emanuel Derman
Год издания: 0000
Emanuel Derman was a quantitative analyst (Quant) at Goldman Sachs, one of the financial engineers whose mathematical models became crucial for Wall Street. The reliance investors put on such quantitative analysis was catastrophic for the economy, setting off the ongoing string of financial crises that began with the mortgage market in 2007 and continues through today. Here Derman looks at why people – bankers in particular – still put so much faith in these models, and why it's a terrible mistake to do so. Though financial models imitate the style of physics and employ the language of mathematics, ultimately they deal with human beings. There is a fundamental difference between the aims and potential achievements of physics and those of finance. In physics, theories aim for a description of reality; in finance, at best, models can shoot only for a simplistic and very limited approximation to it. When we make a model involving human beings, we are trying to force the ugly stepsister's foot into Cinderella's pretty glass slipper. It doesn't fit without cutting off some of the essential parts. Physicists and economists have been too enthusiastic to acknowledge the limits of their equations in the sphere of human behavior–which of course is what economics is all about. Models.Behaving.Badly includes a personal account of Derman's childhood encounters with failed models–the oppressions of apartheid and the utopia of the kibbutz. He describes his experience as a physicist on Wall Street, the models quants generated, the benefits they brought and the problems, practical and ethical, they caused. Derman takes a close look at what a model is, and then highlights the differences between the successes of modeling in physics and its failures in economics. Describing the collapse of the subprime mortgage CDO market in 2007, Derman urges us to stop the naive reliance on these models, and offers suggestions for mending them. This is a fascinating, lyrical, and very human look behind the curtain at the intersection between mathematics and human nature.
The increase in power through supercharging of street racing in eBook
Автор: Автоклуб
Год издания:
Content
Foreword
Introduction to boost technology
Lessons from history
Turbochargers: past and present
Nitrous oxide: from the beginnings to the present day
Aspiration: theory and basic principles
What you should know about turbochargers
Turbocharger boost pressure control
The strategy to prevent the turbocharger turboyam
What you should know about turbochargers
Cooling the intake charge
Injection water and other alternative solutions
Fuels and fuel additives
Fuel
Air intake system
Injection of nitrous oxide
Exhaust system
The process of combustion and ignition system
The engine management system
Increased engine durability
Lubrication system
Cooling system
Modification of the factory engine supercharged
Testing theory in practice and a few thoughts
The Street
Автор: Говард Филлипс Лавкрафт
Год издания:
The story traces the history of the eponymous street in a New England city, presumably Boston, from its first beginnings as a path in colonial times to a quasi-supernatural occurrence in the years immediately following World War I.
Ohtlik lend. Reality show
Автор: Mihkel Ulman
Год издания:
Kui mul midagi naiste vastu on, siis ainult see, et nad ei oska korralikult tulistada ja autot juhtida, ajas Andres Vastrik ennast ise narvi sellega, et valjendus nii kuradi lamedate kliseedega, et see ajas suisa nutma. Kui mees laheb enda peale nii tigedaks, siis ta rundab koige lahemal seisvat tegelast. Et rohkem mitte vastikuid ja ebamugavust tekitavaid emotsioone saada. Ja ta pani taiega: Nii et partnerina on naised ikka usna ebausaldatavad. Ja politseiamet on naiste jaoks paris kindlasti liiga karm. Rita Leidpalu polnud nous laskma endale vett peale tommata:Sinu endine naine vist tootab politseis? Vastrik oli tahtnud koigest plikatirtsu turtsakust tagasi tommata. See oli praegu look allapoole vood, tunnistas ta horeda irooniaga…
Разработка Android-приложений с Augmented Reality
Автор: Тимур Машнин
Год издания:
Дополненная реальность (Augmented Reality) не является какой-то новой технологией, но ее применение было замечено широкой публикой с появлением игры Pokemon GO, которая показала, что технология AR имеет большой потенциал. В книге рассмотрены различные способы разработки приложений с дополненной реальностью, от нативной разработки в Android Studio до использования таких движков, как Unity.
Her Benny: A Story of Street Life
Автор: Hocking Silas Kitto
Год издания: