Modelsbehavingbadly Why Confusing Illusion With Reality Can Lead To Disaster On Wall Street And In Life Emanuel Derman
Explore the critical pitfalls when financial models or life's conceptual frameworks are mistaken for objective reality, leading to significant misjudgments and potential disaster. This profound analysis delves into the dangers of illusion vs reality on Wall Street and in personal decision making, highlighting how failures in understanding model risk management can have far-reaching, negative consequences.