Social Dynamics

The ultimate failure of rational market theory in the face of human behavior, culminating in the 2008 financial crisis and the need for integrity in finance.

How behavioral economics challenged the rational market hypothesis, revealing systematic human biases and the limits of arbitrage.

The rise of the Efficient Market Hypothesis and its transformation of finance, from academic theory to Wall Street practice and corporate governance.

How World War II operations research techniques transformed finance, giving rise to modern portfolio theory and the concept of Statistical Man.

A comprehensive history of the rational market myth, tracing how mathematical models of perfect efficiency dominated finance despite mounting evidence of human irrationality and market imperfections.

Exploring the origins of rational finance in the early 20th century, from Irving Fisher's disastrous predictions to Louis Bachelier's mathematical modeling of market randomness.

Exploring how bounded rationality and time inconsistency warp our ethical decisions about life, death, and intergenerational justice through the lenses of behavioral economics and bioethics.