Category Archives: Mathematics

econ: What’s Wrong With This Picture?

Have at it boys and girls: When you teach a graduate course in price theory, you typically are teaching solutions to a “constrained optimization” problem.  Thus the calculus along with Lagrangean multipliers and all that.  Those who think there’s too … Continue reading

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finance: Roman Frydman & Michael Goldberg on Hayek, Mathematics, Wall Street & Financial Regulations

Economists Roman Frydman and Michael Goldberg presented a paper exploring the significance of the limits of knowledge and mathematical modeling for financial regulations titled “Emerging from the Financial Crisis” (pdf) at Columbia University Friday, Feb. 20, 2009.  From their paper: … Continue reading

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