{"product_id":"complexity-risk-and-financial-markets-9780471239475","title":"Complexity, Risk, and Financial Markets","description":"\u003cp\u003e • Author(s): Edgar E. Peters\u003cbr\u003e • Publisher: Wiley\u003cbr\u003e • Publisher Imprint: Wiley\u003cbr\u003e • BISAC: Investments \u0026amp; Securities - General\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eFrom the Back Cover\u003c\/b\u003e\u003cbr\u003ePatterns in the Dark is that rare book that offers an entirely new perspective on an issue of ongoing concern to investors: the unpredictability of financial markets. In this groundbreaking work, leading investment strategist and authority on chaos theory Edgar\u003cbr\u003e Peters makes accessible ways of understanding market behavior that--until now--were\u003cbr\u003e known only to specialists. In a lucid and engaging style, Peters explains how processes\u003cbr\u003e with a large number of independent agents, such as free markets, can spontaneously\u003cbr\u003e organize themselves into a coherent system. He draws on the work of the Austrian school\u003cbr\u003e of economics and complexity theory to show how free markets are by their nature\u003cbr\u003e continually evolving complex systems that require uncertainty to operate successfully.\u003cbr\u003e Using everyday examples, Peters shows how complex systems use uncertainty to adapt to\u003cbr\u003e changes in their environment and to absorb unexpected shocks. As proof, he cites\u003cbr\u003e instructive examples of how rash or heavy-handed attempts to eliminate uncertainty in\u003cbr\u003e markets have invariably led to disaster. Patterns in the Dark draws on a broad range of\u003cbr\u003e human knowledge and experience to clarify the behavior of a system that now operates on\u003cbr\u003e a global, 24-hour, and thoroughly interconnected basis. Peters illuminates the complex\u003cbr\u003e operation of the marketplace by including keen observations drawn from science, \u003cbr\u003e mathematics, and artistic creation as well as economics. His models include the social\u003cbr\u003e vision of the Austrian economists, Darwinian ideas of evolution, the laws of physics, and\u003cbr\u003e the creative risks of the artist. His meditations on financial markets weigh the effects of\u003cbr\u003e limitations vs. rules, risk vs. uncertainty, and order vs. chaos. As a guide to a world\u003cbr\u003e marketplace that has become increasingly complex anti uncertain, Patterns in the Dark\u003cbr\u003e offers the investor a rich source of insight, illumination, and wisdom.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Hardcover","offer_id":45155942072471,"sku":"9780471239475","price":4028.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9780471239475.webp?v=1767301496","url":"https:\/\/atlanticbooks.com\/products\/complexity-risk-and-financial-markets-9780471239475","provider":"Atlantic Books","version":"1.0","type":"link"}