theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional … theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and … extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for …

management of these financial instruments—and of how they ultimately created havoc inside and outside the bank. …

that we think about insurance--as a risk management problem, only here on a global scale. Demonstrating that climate change …

everyone. The Butterfly Defect addresses the widening gap between systemic risks and their effective management. It shows how …

everyone. The Butterfly Defect addresses the widening gap between systemic risks and their effective management. It shows how …

management of these financial instruments—and of how they ultimately created havoc inside and outside the bank. …

ambitious methodological response to this important question. By employing rational-choice and game theory, the authors propose …