Derman on Theories, Models, and Science
EconTalk
English - March 12, 2012 06:30 - 59 minutes - 27.3 MB - ★★★★★ - 4K ratingsCourses Education Science Social Sciences economics business books interviews history ethics Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Calomiris on Capital Requirements, Leverage, and Financial Regulation
Next Episode: Acemoglu on Why Nations Fail
Emanuel Derman of Columbia University and author of Models. Behaving. Badly talks with EconTalk host Russ Roberts about theories and models, and the elusive nature of truth in the sciences and social sciences. Derman, a former physicist and Goldman Sachs quant, contrasts the search for truth in the sciences with the search for truth in finance and economics. He critiques attempts to make finance more scientific and applies those insights to the financial crisis. The conversation closes with a discussion of career advice for those aspiring to work in quantitative finance.