Rick Bookstaber: Human Complexity – The Strategic Game of ? and ?


It is so much easier when someone else…particularly someone with such a high profile…puts their mind to something about which you have thought and written so much. Especially when the vast majority of Mr Bookstaber’s writing echoes what you have been “SCREAMING!” to try to get such an important message heard.

What is Complexity?

Complexity can be either an annoyance or a boon, depending on one’s enthusiasm for tricky problems. We all know intuitively that complexity makes accidents both more likely and more severe. After all, any machine with many parts has more risk of having something go wrong, and with more interconnected mechanisms there is more risk that a single failure will propagate to cause the entire machine to fail. For markets, the accidents are market crises

via Rick Bookstaber: Human Complexity: The Strategic Game of ? and ?.

One Response to Rick Bookstaber: Human Complexity – The Strategic Game of ? and ?

  1. Bookstaber’s 2008 statement to Senate Committee on “Risk Management and its implications for Systemic Risk” https://www.box.net/shared/abkkhgfqxf

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