Rigid Theories and Adaptive Markets

It is no secret that the economics profession is struggling to learn the lessons taught by the recent crisis. Two new books show where that thinking is headed. The End of Theory, by Richard Bookstaber, emphasizes the importance of focusing analysis on the world as it is, rather than on a more formal universe that is easier to model.  Adaptive Markets, by Andrew Lo, explores how much we could benefit from learning to tap the potential of modern finance.

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Ideas, Information and Structural Power

Professor Pepper D. Culpepper recently accepted a job in Oxford at the Blavatnik School of Government. This means he will leave the European University Institute, where he has been teaching since 2010. A group of his current and former PhD students decided to organize half-day event to celebrate Professor Culpepper’s time at the EUI. As part of that celebration, I offered to do a profile of Professor Culpepper’s research contribution. What follows is the text that I presented.

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Political Risk

In August 2016, SAIS Europe will inaugurate a new Master of Arts degree program in political risk analysis – called the ‘Masters of Arts in Global Risk’. It is a thirteen-month program taught in Bologna, Italy that includes a three-month practicum as a final project. The goal of the program is to help students to develop the analytic skills in economics, political science, history, law, and international relations necessary to work with clients to understand the world around us. It is a practical application of the social sciences. And it is a great potential source of added value for our students. This degree is currently accepting applications.  The deadline for applications is 7 January 2016.

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