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David Orrell
David John Orrell (born 1962 in Edmonton) is a Canadian writer and mathematician. He received his doctorate in mathematics from the University of Oxford. His work in the prediction of complex systems such as the weather, genetics and the economy has been featured in New Scientist, the Financial Times, The Economist, Adbusters, BBC Radio, Russia-1, and CBC TV. He now conducts research and writes in the areas of systems biology and economics, and runs a mathematical consultancy Systems Forecasting. He is the son of theatre historian and English professor John Orrell. His books have been translated into over ten languages. '' Apollo's Arrow: The Science of Prediction and the Future of Everything'' was a national bestseller and finalist for the 2007 Canadian Science Writers' Award. ''Economyths: Ten Ways Economics Gets It Wrong'' was a finalist for the 2011 National Business Book Award. Criticism of use of mathematical models A consistent topic in Orrell’s work is the limitations of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economyths
''Economyths'' is a book by the mathematician David Orrell about the problems with mainstream economics, written for the general reader. The book was initially published in 2010 by Icon Books in the UK with the subtitle ''Ten Ways That Economics Gets it Wrong'', and by John Wiley & Sons in North America. Icon published a revised version in 2012, with the subtitle ''How the Science of Complex Systems Is Transforming Economic Thought''. Translated versions were also published in Brazil, China, Japan and Korea. In 2017, Icon published a revised and expanded version with the subtitle ''11 Ways Economics Gets it Wrong''. Summary The book has ten chapters, each of which concentrates on a separate “economyth”. These are summarized on p. 6 as follows: 1. The economy can be described by economic laws. 2. The economy is made up of independent individuals 3. The economy is stable 4. Economic risk can be easily managed using statistics 5. The economy is rational and efficient ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Orrell At Art Center Global Dialogues
David (; , "beloved one") (traditional spelling), , ''Dāwūd''; grc-koi, Δαυΐδ, Dauíd; la, Davidus, David; gez , ዳዊት, ''Dawit''; xcl, Դաւիթ, ''Dawitʿ''; cu, Давíдъ, ''Davidŭ''; possibly meaning "beloved one". was, according to the Hebrew Bible, the third king of the United Kingdom of Israel. In the Books of Samuel, he is described as a young shepherd and harpist who gains fame by slaying Goliath, a champion of the Philistines, in southern Canaan. David becomes a favourite of Saul, the first king of Israel; he also forges a notably close friendship with Jonathan, a son of Saul. However, under the paranoia that David is seeking to usurp the throne, Saul attempts to kill David, forcing the latter to go into hiding and effectively operate as a fugitive for several years. After Saul and Jonathan are both killed in battle against the Philistines, a 30-year-old David is anointed king over all of Israel and Judah. Following his rise to power, David c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Systems Biology
Systems biology is the computational modeling, computational and mathematical analysis and modeling of complex biological systems. It is a biology-based interdisciplinary field of study that focuses on complex interactions within biological systems, using a holistic approach (holism instead of the more traditional reductionist, reductionism) to biological research. Particularly from the year 2000 onwards, the concept has been used widely in biology in a variety of contexts. The Human Genome Project is an example of applied systems thinking in biology which has led to new, collaborative ways of working on problems in the biological field of genetics. One of the aims of systems biology is to model and discover emergent property, emergent properties, properties of cell (biology), cells, tissue (biology), tissues and organisms functioning as a system whose theoretical description is only possible using techniques of systems biology. These typically involve metabolic networks or cell ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prediction
A prediction (Latin ''præ-'', "before," and ''dicere'', "to say"), or forecast, is a statement about a future event or data. They are often, but not always, based upon experience or knowledge. There is no universal agreement about the exact difference from "estimation"; different authors and disciplines ascribe different connotations. Future events are necessarily uncertain, so guaranteed accurate information about the future is impossible. Prediction can be useful to assist in making plans about possible developments. Opinion In a non-statistical sense, the term "prediction" is often used to refer to an informed guess or opinion. A prediction of this kind might be informed by a predicting person's abductive reasoning, inductive reasoning, deductive reasoning, and experience; and may be useful—if the predicting person is a knowledgeable person in the field. The Delphi method is a technique for eliciting such expert-judgement-based predictions in a controlled way. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quantum Economics
Quantum economics is an emerging research field which applies mathematical methods and ideas from quantum physics to the field of economics. It is motivated by the belief that economic processes such as financial transactions have much in common with quantum processes, and can be appropriately modeled using the quantum formalism. It draws on techniques from the related areas of quantum finance and quantum cognition, and is a sub-field of quantum social science. History A number of economists including Paul Samuelson and Bernard Schmitt (whose "quantum macroeconomics" treated production as an instantaneous emission) have found inspiration in quantum theory. Perhaps the first to directly exploit quantum techniques in economic analysis, however, was the Pakistani mathematician Asghar Qadir. In his 1978 paper ''Quantum Economics'', he argued that the formalism of quantum mechanics is the best mathematical framework for modeling situations where "consumer behavior depends on infini ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quantum Finance
Quantum finance is an interdisciplinary research field, applying theories and methods developed by quantum physicists and economists in order to solve problems in finance. It is a branch of econophysics. Background on instrument pricing Finance theory is heavily based on financial instrument pricing such as stock option pricing. Many of the problems facing the finance community have no known analytical solution. As a result, numerical methods and computer simulations for solving these problems have proliferated. This research area is known as computational finance. Many computational finance problems have a high degree of computational complexity and are slow to converge to a solution on classical computers. In particular, when it comes to option pricing, there is additional complexity resulting from the need to respond to quickly changing markets. For example, in order to take advantage of inaccurately priced stock options, the computation must complete before the next chan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Chronicle Of Higher Education
''The Chronicle of Higher Education'' is a newspaper and website that presents news, information, and jobs for college and university faculty and student affairs professionals (staff members and administrators). A subscription is required to read some articles. ''The Chronicle'', based in Washington, D.C., is a major news service in United States academic affairs. It is published every weekday online and appears weekly in print except for every other week in May, June, July, and August and the last three weeks in December. In print, ''The Chronicle'' is published in two sections: section A with news, section B with job listings, and ''The Chronicle Review,'' a magazine of arts and ideas. It also publishes ''The Chronicle of Philanthropy'', a newspaper for the nonprofit world; ''The Chronicle Guide to Grants'', an electronic database of corporate and foundation grants; and the web portal Arts & Letters Daily. History Corbin Gwaltney was the founder and had been the editor of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Complexity Science
A complex system is a system composed of many components which may interact with each other. Examples of complex systems are Earth's global climate, organisms, the human brain, infrastructure such as power grid, transportation or communication systems, complex software and electronic systems, social and economic organizations (like cities), an ecosystem, a living cell, and ultimately the entire universe. Complex systems are systems whose behavior is intrinsically difficult to model due to the dependencies, competitions, relationships, or other types of interactions between their parts or between a given system and its environment. Systems that are "complex" have distinct properties that arise from these relationships, such as nonlinearity, emergence, spontaneous order, adaptation, and feedback loops, among others. Because such systems appear in a wide variety of fields, the commonalities among them have become the topic of their independent area of research. In many cases, it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aesthetic
Aesthetics, or esthetics, is a branch of philosophy that deals with the nature of beauty and taste, as well as the philosophy of art (its own area of philosophy that comes out of aesthetics). It examines aesthetic values, often expressed through judgments of taste. Aesthetics covers both natural and artificial sources of experiences and how we form a judgment about those sources. It considers what happens in our minds when we engage with objects or environments such as viewing visual art, listening to music, reading poetry, experiencing a play, watching a fashion show, movie, sports or even exploring various aspects of nature. The philosophy of art specifically studies how artists imagine, create, and perform works of art, as well as how people use, enjoy, and criticize art. Aesthetics considers why people like some works of art and not others, as well as how art can affect moods or even our beliefs. Both aesthetics and the philosophy of art try to find answers for what exac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
String Theory
In physics, string theory is a theoretical framework in which the point-like particles of particle physics are replaced by one-dimensional objects called strings. String theory describes how these strings propagate through space and interact with each other. On distance scales larger than the string scale, a string looks just like an ordinary particle, with its mass, charge, and other properties determined by the vibrational state of the string. In string theory, one of the many vibrational states of the string corresponds to the graviton, a quantum mechanical particle that carries the gravitational force. Thus, string theory is a theory of quantum gravity. String theory is a broad and varied subject that attempts to address a number of deep questions of fundamental physics. String theory has contributed a number of advances to mathematical physics, which have been applied to a variety of problems in black hole physics, early universe cosmology, nuclear physics, and conde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Model
In economics, a model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes. Frequently, economic models posit structural parameters. A model may have various exogenous variables, and those variables may change to create various responses by economic variables. Methodological uses of models include investigation, theorizing, and fitting theories to the world. Overview In general terms, economic models have two functions: first as a simplification of and abstraction from observed data, and second as a means of selection of data based on a paradigm of econometric study. ''Simplification'' is particularly important for economics given the enormous complexity of economic processes. This complexity can be attributed to the diversity of factors that determine economic activity; ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
