Bieta, Volker; Milde, Hellmuth; Weber, Nadine Marianne - In: International Journal of Financial Research 3 (2012) 1, pp. 81-87
In this paper we claim that modeling financial markets based on probability theory is a severe systematic mistake that led to the global financial crisis. We argue that the crisis was not just the result of risk managers using outdated financial data; we think that the employed efficiency...
